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Following Donald Trump’s reelection, the crypto community has continued to rally behind his return to the White House. Bitcoin has surged to new heights, breaking the all-time record just hours after it soared past $75,000 on Tuesday night.
Bitcoin is currently trading at approximately $75,606, reflecting a remarkable 7.6% increase over the past 24 hours. It is expected to rise further, showing heightened optimism and enthusiasm among investors due to recent political developments. The momentum shows no signs of slowing — among seasoned traders and newcomers alike.
Bitcoin advocate and MicroStrategy (MSTR+13.55%) founder Michael Saylor posted on X, “We have a #Bitcoin President.”
According to crypto tracking website CoinGecko, the top cryptocurrency has surged 110,968% since 2013. This means a $100 investment in Bitcoin back then would now be worth over $1 million.
Ether and other major cryptocurrencies are also surging
Bitcoin’s new all-time high has buoyed the entire cryptocurrency market, sparking notable gains across various digital assets. Ether, the second-largest cryptocurrency by market capitalization, was trading at $2,671, marking an increase of over 9% in the last 24 hours. Additionally, popular memecoins saw substantial upticks: Dogecoin jumped more than 11%, while Shiba Inu was up over 7% in the same period. Solana also experienced an increase of 12%.
Cryptocurrency stocks are on the rise
Meanwhile, companies tied to crypto, such as Coinbase (COIN+31.60%), MicroStrategy (MSTR+13.55%), Marathon Digital (MARA+19.40%), Riot Platforms (RIOT+23.79%), and Tesla (TSLA+14.79%), saw significant gains Wednesday following Trump’s reelection.
