Original title: Bitcoin tops $80,000 for first time as crypto continues to rally after Trump victory
Original author: AFP
Original source: https://fortune.com/
Compiled by: Daisy, Mars Finance
Bitcoin soared to a new high on Sunday, as traders bet that Donald Trump's return to the White House would be favorable for cryptocurrencies.
Around 12:00 PM GMT (8:00 PM Beijing time), this cryptocurrency first historically broke through the $80,000 mark. As of the time of writing, Bitcoin has reached $80,900.
Since Republican candidate Trump's victory in the U.S. presidential election last Tuesday, Bitcoin has been on the rise, with many believing he will ease regulations on digital currencies.
On Wednesday, Bitcoin reached $75,000, surpassing its previous all-time high of $73,797.98 set in March.
In the contest against Democratic candidate Kamala Harris, Trump is seen as the candidate supporting cryptocurrencies.
During his first presidential term, Trump called cryptocurrencies a scam, but since then, his stance has fundamentally changed, even launching his own digital currency platform.
He promised to make the U.S. the 'global capital of Bitcoin and cryptocurrencies' and plans to appoint tech billionaire and right-wing conspiracy supporter Elon Musk to oversee a broad government waste audit.
During Trump's previous term, corporate tax cuts brought more liquidity to the market, encouraging investments in high-growth assets like cryptocurrencies.
In September, Trump announced that he would launch a digital currency platform called 'World Liberty Financial' with his sons and some entrepreneurs.
However, the platform's launch at the beginning of this month did not go smoothly, with only a small portion of the tokens available finding buyers.
