BTC/USD: Bitcoin Goes on a Tear — Shatters $76,000 as Trump Paints Bright Crypto Outlook

OG coin picked up 9% to its market cap, surpassing $1.5 trillion for the first time in history. Big things ahead, if you ask Donald Trump.

• Bitcoin BTCUSD hit an all-time high of more than $76,000 per coin late Wednesday as crypto enthusiasts were overjoyed with Donald Trump’s election win against Kamala Harris. The OG token’s price jumped more than 9% and for the first time ever crossed a valuation of $1.5 trillion. The rally was broad and lifted Ethereum ETHUSD by over 10% to more than $2,800 a piece.
• Memetokens got a boost, too. Dogecoin (DOGE/USD), beloved by Tesla CEO Elon Musk, surged more than 40% to 21 cents but gave up some of the gains to dive back under the 20-cent threshold. Solana SOLUSD, an Ethereum rival, pumped to levels above $190 from under $170. Overall, the entire crypto market got a bump with about a 5% increase to market cap, which eclipsed $2.5 trillion, giving Bitcoin a chunky 60% slice.
• Trump’s presidency promises big things for the crypto industry. Big-shot crypto players put lots of effort into getting pro-crypto candidates into office — and these efforts paid off with both the House and the Senate likely to be under Republican control. On the agenda: lower taxes and crypto-friendly regulations are top of mind for Trump’s administration. They’re coupled with stimulating crypto miners to stay and mine “all the Bitcoin”in the US.