Bitcoin surged to a record high of $80,000 on Sunday, reflecting growing optimism surrounding Donald Trump’s recent presidential election win. The digital currency initially reached $75,000 on Wednesday, surpassing its previous peak of $73,797.98 from March, and continued its upward momentum over the weekend.
Trump’s stance on cryptocurrency, which has become notably supportive, has encouraged investors. Analysts like Charles Morris of ByteTree Investment noted that the odds of Bitcoin growing into a mainstream asset class have “markedly risen.” Similarly, Stephane Ifrah from Coinhouse predicted that Bitcoin’s bullish trend could extend for up to a year, potentially reaching $100,000.
Trump, who once referred to cryptocurrencies as a “scam,” has since shifted his perspective and pledged to make the U.S. a global cryptocurrency hub. His latest digital currency platform, World Liberty Financial, was launched with his sons and other entrepreneurs. Despite a rocky start, Trump’s support is expected to continue driving interest in Bitcoin and the broader crypto market.
