Bitcoin, the world’s leading cryptocurrency, has reached an extraordinary milestone, trading above $80,000 for the first time in its history.
The digital currency surged past the $80,000 mark on Sunday, November 10, hitting a new all-time high of $80,945.35 at 7:31 p.m. GMT+1, according to CoinMarketCap.
The surge comes just days after the U.S. presidential election, where Republican candidate Donald Trump emerged victorious.
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This political event seems to have sparked new optimism in the cryptocurrency market, contributing to Bitcoin’s recent momentum. Earlier in the week, Bitcoin crossed the $75,000 threshold on Wednesday, coinciding with Trump’s win.
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The price boost isn’t limited to Bitcoin alone. Ethereum, the second-largest cryptocurrency, also saw a notable rise, gaining 4.64% to reach $3,220.
The overall cryptocurrency market hit a new high as well, with a total market capitalization of $2.65 trillion—a 2.20% increase from the previous day. Trading volume in the past 24 hours reached $157.07 billion.
Trump’s campaign has embraced cryptocurrency in recent months, allowing donations via Bitcoin, Ether, and Dogecoin.
The former president has also endorsed World Liberty Financial, a crypto project led by his business associates, which aims to raise $300 million through token sales.
This growing relationship between politics and digital currency may signal a bright future for Bitcoin and the crypto market as a whole.
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With Trump’s support and the continuing surge in crypto interest, Bitcoin’s rise above $80,000 could be just the beginning of further growth in the digital asset space.
Investors and analysts are closely watching, as many believe that the mainstream adoption of cryptocurrencies could be on the horizon.
