Bitcoin breaks record and flies to $81,000

Bitcoin breaks record high of $81,000

Monday was a historic day for crypto enthusiasts, when the bitcoin broke through the $81,000 mark (75,571 euros) for the first time. The crypto currency has already risen nearly 20 percent since the recent US presidential election. The reason? The return of former President Donald Trump to the White House is seen as a positive development by many in the crypto world.

Trump wants to make U.S. the "crypto capital of the world"

Trump has grandly announced that he wants to make the United States the "crypto capital of the world," bringing new hope for more lenient regulations within the crypto sector. Under his administration, the U.S. government would be less strict with cryptocurrencies, giving the sector more room to grow.

In addition, a Republican majority in the Senate over the next four years promises to make it easier for Trump to implement his plans. Thus, the likelihood of more lenient rules around cryptocurrencies is increasing, a change that many investors would like to see. Instead, under the current president, Joe Biden, the focus has been on stricter measures due to concerns about fraud and money laundering.

Share price of bitcoin nearly doubles by 2024

Bitcoin already experienced a spectacular rise this year. After setting records of nearly $74,000 (69,080 euros) earlier this year, the crypto currency reached a new high of $81,500 (76,020 euros) early Monday morning, according to data from crypto platform CoinMarketCap. Around 6:45 a.m., bitcoin was slightly lower at $80,900 (75,472 euros), but the trend is abundantly clear.

The price gains also seem to have been prompted by recent election results. For example, it was announced on Sunday that Trump had also put the swing state of Arizona to his name, which immediately caused a major upward movement in the crypto market. This new optimism among crypto investors suggests that if Trump follows through on his plans, we can expect many more highs.

The future of bitcoin seems bright - at least, if it is up to the new president.