Bitcoin just hit $121,000. Here’s why Trump is boosting crypto
Bitcoin on Sunday hit a new record above $US80,000 ($AUD121,526). The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.
Bitcoin is up 80 per cent this year, dwarfing the S&P 500’s still-electric 25.7 per cent gain this year.
After briefly touching the $US80,000 milestone, bitcoin was trading just below it mid-morning on Sunday (Monday morning AEDT).
The crypto industry believes Trump’s victory is a bullish sign for bitcoin and other digital currencies. Although Trump was once a bitcoin…
