Topline
Bitcoin prices eclipsed $90,000 for the first time Wednesday, the latest milestone for the world’s largest cryptocurrency in its massive post-election rally.
The world’s largest cryptocurrency is up more than 30% since election night.
Key Facts
Bitcoin climbed to over $90,000 by about 9:30 a.m. EST, or 2:30 p.m. Greenwich Mean Time (prices for the constantly traded crypto market are most commonly referenced in GMT).
The digital asset quickly ripped further, trading at more than $91,000 by 10 a.m. EST.
Bitcoin is up more than 30% since election night, when it sat below $70,000.
Big Number
$1.8 trillion. That’s the total market value of bitcoin, more than doubling since the end of 2023, according to CoinMarketCap.
Surprising Fact
Bitcoin crossed the $90,000 threshold just three days after surpassing $80,000 for the first time.
Key Background
2024 was already a strong year for bitcoin prices, with the token up 7o% by the end of October. Much of those gains were concentrated early in the year as the Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds (ETFs), opening the door for new institutional capital into the digital asset. The post-election rally came as crypto traders celebrated the election of Donald Trump, who championed bitcoin and the broader crypto industry on the campaign trail.
