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As investors continued to place large wagers on Donald Trump’s election triumph last week, Bitcoin surged to an all-time high Wednesday, reaching $81,000.
Early today, the cryptocurrency peaked at $81,889 in trade. Prior to that, on November 6, it reached a record of $75,000. Since then, it has varied between $75,000 and $81,000. Bitcoin was up 2.25 percent at over $80,933 as of 11 AM today.
The value of cryptocurrencies has increased significantly in recent years. Ethereum reached about $3,192 on Monday, surpassing $3,200, its highest level in more than three months. Dogecoin, a cryptocurrency that was introduced in 2013 as a spoof of the cryptocurrency frenzy, reached its highest point in three years at the same time.
In 2024, Bitcoin has surged nearly 80%, driven by strong demand for exchange-traded funds (ETFs) in the US and recent interest rate cuts by the Federal Reserve. This surge has allowed Bitcoin to outperform traditional assets like stocks and gold.
