Bitcoin trades above $80,000 — first time in history

Bitcoin, the world’s most valuable cryptocurrency, surged to over $80,000 for the first time on Sunday.

On Wednesday, Bitcoin price crossed $75,000, the same day Donald Trump, a Republican Party candidate, won the United States presidential election.

Earlier today, TheCable observed that the leading cryptocurrency gained over 5.24 percent over the past 24 hours, to trade at $80,945.35 at 7:31pm (GMT+1), according to CoinMarketCap, a price-tracking website for crypto assets.

The market-wide surge also saw Ethereum, the world’s second-largest cryptocurrency by market value, appreciate by 4.64 percent to $3,220.

Also, the cryptocurrency market capitalisation hit a new high of $2.65 trillion – up by 2.20 percent and recording $157.07 billion in 24 hours.

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.

World Liberty began selling its token to qualified investors to raise $300 million.