Bitcoin tops report $80,000 as Trump nears sweep of US Congress | EUROtoday

The worth of bitcoin has risen above $80,000 (£62,000) for the primary time ever, after Donald Trump’s decisive victory within the US election final week.

It comes because the Republicans are edging nearer to total management of Congress after having already secured the presidency and a majority within the Senate.

On the marketing campaign path the president-elect pledged to make the US “the crypto capital of the planet”.

The worth of world’s greatest cryptocurrency has now risen by greater than 80% this yr.

Other cryptocurrencies, together with dogecoin – which has been promoted by high-profile Trump supporter Elon Musk – are additionally making beneficial properties.

In the run-up to the election Trump stated he would create a strategic Bitcoin stockpile and appoint digital asset-friendly monetary regulators.

Trump has stated one among his first actions as president could be to sack the present chair of the Securities and Exchange Commission (SEC), Gary Gensler.

Mr Gensler, who was appointed Joe Biden in 2021, has led the SEC’s crackdown on the crypto trade.

Trump’s broader agenda, which incorporates chopping taxes and lowering rules on companies, has additionally pushed a surge in different investments since he received the election.

Major inventory indexes, the greenback and US bonds have all made beneficial properties in latest days.