Bitcoin, the world’s biggest cryptocurrency by market capitalisation, on Wednesday, crossed $90,000 — continuing a bullish run that began last week.
The price of the digital currency started climbing when Donald Trump, a Republican Party candidate, was announced winner of the US presidential election On November 6. The digital asset reached $75,000 on that day.
Four days later, the cryptocurrency crossed $80,000 and reached $89,000 on November 11.
TheCable observed on Wednesday that the leading cryptocurrency gained over 5.7 percent in the past 24 hours.
Advertisement
The bitcoin price stood at a record $92,573 as at 6pm Nigerian time, according to CoinMarketCap, a price-tracking website for crypto assets.
The cryptocurrency market capitalisation stood at $3.18 trillion — up by 3.5 percent, recording $371.5 billion in 24 hours.
The surge in the bitcoin price comes as political pundits and market watchers continue to debate the impact of a Trump presidency on the global economy.
Advertisement
Donald Trump had 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 — making the digital asset a crucial part of debates during the campaign season.
In October, the former US president began promoting World Liberty Financial, a crypto venture set up by his longtime business partners and others, according to the Financial Times.
World Liberty began selling its token to qualified investors to raise $300mn.
Advertisement
Add a comment
