Bitcoin Soars above $80,000 wager for first time

This followed Republican candidate Donald Trump’s decisive victory in the U.S. presidential election on December 6 as Trump vowed to make the United States “the crypto capital of the planet”  and allowing supporters to contribute via Bitcoin, Ether, and Dogecoin.

Bitcoin, the world’s biggest and best-known cryptocurrency, is up 65.4% from the year’s low of $38,505 it hit on January 23.

The market rally extended beyond Bitcoin, as Ethereum, the second-largest cryptocurrency by market cap, rose by 4.64% to $3,220. The overall cryptocurrency market also reached a new record, with a total market capitalization of $2.65 trillion, marking a 2.20% increase and generating $157.07 billion in trading volume over 24 hours.

Last month, the former president began promoting World Liberty Financial, a crypto project launched by his business associates, with the goal of raising $300 million through token sales to qualified investors, as reported by the Financial Times.

With Trump’s endorsement and integration of cryptocurrency into his campaign, Bitcoin’s latest surge may signal increased interest and potential growth in the crypto sector.