Bitcoin jumps to record high in crypto frenzy after Trump win
The price of bitcoin hit a new high Wednesday as investors bet that former Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies.
Bitcoin jumped nearly eight per cent in early trading, climbing above $75,000 US and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8 per cent.
Another token, dogecoin, rocketed as much as 18 per cent. It’s the favorite cryptocurrency of billionaire Elon Musk, one of Trump’s most prominent supporters.
Trump was previously a crypto skeptic but changed his mind and embraced cryptocurrencies ahead of the election.
He has pledged to make America “the…
