American News Group

Bitcoin sets a new all-time high on election night

Bitcoin set a new all-time high Tuesday night, amid strong early results for Donald Trump in the 2024 presidential election. Why it matters: It indicates confidence from the market in Trump’s chance of winning and ushering in a much more pro-crypto regulatory environment. By the numbers: At 8am ET Tuesday morning, bitcoin (BTC) traded for $68,710, according to CoinGecko. Context: Historically, bitcoin overperformed following the prior two presidential elections. What we’re watching: It remains to be seen if the elation continues once the race results become clear.
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