Bitcoin (BTC), the world’s most valuable cryptocurrency by market capitalisation, reached a historic milestone, crossing $75,000 for the first time on Wednesday.
According to CoinMarketCap, the cryptocurrency surged by 8.63% within 24 hours, peaking at $75,011.06 before dropping to $73,803 later in the day.
The previous all-time high for Bitcoin was $71,195, recorded on March 11, 2024.
The global cryptocurrency market capitalization also rose significantly, reaching $2.45 trillion after a $190.4 billion gain in just 24 hours. Other major cryptocurrencies saw price jumps as well. Ethereum (ETH) increased by 7.51%, reaching $2,618, Solana (SOL) jumped 14%, trading at $184 and Dogecoin (DOGE) rose by 19%.
This price surge followed news that Donald Trump, the Republican candidate, won the U.S. presidential election, securing more than the necessary 270 electoral college votes.
Earlier this year, Trump’s campaign began accepting donations in cryptocurrencies, including Bitcoin, Ether, and Dogecoin, signaling the growing role of crypto in U.S. political discourse.
Recently, Trump also promoted a new crypto venture, World Liberty Financial, founded by his longtime business partners. The venture is currently selling its token to qualified investors, aiming to raise $300 million.
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