SINGAPORE — Bitcoin soared to a record high above $81,000 on Monday on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as US president and pro-crypto candidates to Congress.
The world's biggest and best-known cryptocurrency has now more than doubled from the year's low of $38,505 and was last at $81,572, having earlier touched a record high of $81,899.Trump embraced digital assets during his campaign, promising to make the United States the 'crypto capital of the planet' and to accumulate a national stockpile of bitcoin.
The cryptocurrency industry spent more than $119 million backing pro-crypto congressional candidates and has, by and large, succeeded.In Ohio, one of the crypto industry's biggest foes in Congress — Senate Banking Committee Chairman Sherrod Brown — was ousted, while pro-crypto candidates from both the Democratic and Republican parties won in Michigan, West Virginia, Indiana, Alabama and North Carolina.
Breaks $81 000 On Trump's Victory
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