“Bitcoin” Reaches a New Record as Trump Advances in the Election
The cryptocurrency Bitcoin reached a historic high in early trading on Wednesday, as traders worldwide monitored the progress of Republican U.S. presidential candidate Donald Trump against his Democratic opponent, Kamala Harris.
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According to the cryptocurrency trading platform “Coin Market Cap,” Bitcoin rose more than 7.8% to reach the $75,000 mark per unit.
This new price surpasses the record set in March, following the excitement surrounding the launch of exchange-traded funds in the U.S., when Bitcoin reached $73,200.
Bitcoin’s gains continued as Trump took an early lead over Harris on Wednesday, making initial advances in Georgia and North Carolina, two of the seven key swing states.
Ethereum, the second-largest cryptocurrency, surged by 6.5%, while Dogecoin, also known as “Doge” and promoted by Trump supporter Elon Musk, rose by 18%.
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Cryptocurrencies have now taken on a prominent role in politics, with Bitcoin seen as a “Trump trade” since the Republican presidential candidate embraced digital assets during his campaign.
Trump has established himself as the most crypto-friendly candidate, pledging to make the United States the global capital of cryptocurrencies, create a strategic reserve of Bitcoin, and appoint regulators willing to foster the growth of digital assets if he returns to the White House, according to the Anadolu Agency.
