Trump win ignites crypto frenzy that sends bitcoin to a record high
The price of bitcoin hit a new high Wednesday and crypto-related shares rallied as investors bet that Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies.
Bitcoin jumped nearly 8 percent in early trading, climbing above $75,000 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 percent.
Another token, dogecoin, rocketed as much as 18 percent. It’s the favorite cryptocurrency of billionaire Elon Musk, one of Trump’s most prominent supporters.
Crypto-related shares outran the rest of the stock market. Coinbase, one of the biggest cryptocurrency exchanges, leaped 17…
