Bitcoin price crosses $75,000, sets new all-time high after Trump’s victory

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalisation, crossed $75,000 for the first time on Wednesday.

TheCable observed that the leading cryptocurrency gained 8.63 percent over the past 24 hours, and momentarily settled at $75,011.06, according to CoinMarketCap, a price-tracking website for crypto assets, earlier today.

However, it declined to $73,803 at 11:40pm (GMT+1).

Bitcoin’s previous all-time high was $71,195 recorded on March 11.

Also, the global cryptocurrency market capitalisation rose to $2.45 trillion earlier, after recording an increase of over $190.4 billion in the last 24 hours.

Similarly, the price of other cryptocurrencies also experienced an increase.

Ethereum (ETH) price rose by 7.51 percent to $2,618 in the last 24 hours while Solana (SOL) has surged by a whopping 14 percent retailing for $184, and Dogecoin (DOGE) also saw a 19 percent push.

The surge in the bitcoin price comes amid reports that Donald Trump, a Republican Party candidate, won the United States presidential election after exceeding the magic number of 270 electoral college votes.

In May 2024, the Trump campaign announced that supporters can make donations in crypto, including bitcoin, ether, and dogecoin — indicating crypto will be a key issue during the election.

Last month, the former US president began promoting World Liberty Financial, a crypto venture set up by his longtime business partners and others, according to Financial Times.