Bitcoin Hits Record High Amid Election Results

Investing.com — Bitcoin rose to a record high on Wednesday as early vote counting showed Donald Trump leading in the 2024 presidential elections, raising hopes for more favorable regulations.

The world’s biggest cryptocurrency surged nearly 10% to a record high of $74,847.2.

Broader crypto prices also rallied, with the second-largest cryptocurrency, Ether, rising 9.1% to $2,622.90.

Crypto prices climbed sharply after the vote counting at 22:10 ET (03:10 GMT) indicated Trump ahead with 198 electoral votes, while Kamala Harris held 109 votes.

According to coverage by the Associated Press, Trump also led in key battleground states: Pennsylvania, Arizona, North Carolina, and Wisconsin.

Crypto markets welcomed the possibility of a Trump presidency, noting his pro-crypto campaigning and promises for favorable regulations for the industry.