Bitcoin has reached a new milestone after crossing above $80,000 over the weekend.
This is the first time Bitcoin will reach $80,000.
This followed Donald Trump’s victory in last week’s US election.
Recall that Bitcoin (BTCUSD) recently traded around $79,700, up about 4% over the past 24 hours and still in the neighborhood of record levels.
The expectation that a second Trump administration and a new Congress thought to be friendlier to the industry has lifted both bitcoin and other assets in the sector, with investors lately pouring money into instruments like spot bitcoin exchange-traded funds.
The rise has boosted the estimated market cap of crypto broadly, with the figure recently above $2.7 trillion, according to CoinMarketCap.