Bitcoin surged to a record high of $75,060 on Tuesday as crypto investors bet that the White House would be won by Donald Trump, who has pledged to make the US “the bitcoin superpower of the world”.
The world’s biggest cryptocurrency surpassed its previous peak of $73,803.25 in March, following a rally of more than 7 per cent on Tuesday as Trump’s odds of winning improved, according to prediction markets. Races in several key swing states remained too close to call on Tuesday night.
Trump has positioned himself as the pro-cryptocurrency candidate, vowing to end the industry’s “persecution” and courting public and financial backing from major Silicon Valley crypto investors including venture capital firm Andreessen Horowitz and Gemini co-founders Tyler and Cameron Winklevoss.