Bitcoin and Tesla surge as investors react to Trump's election victory
ft.com —
Bitcoin reached a new high of $82,020, rising 7% as investors reacted to Donald Trump's election victory. The US dollar also increased by 0.4%, hitting its highest level since July, while the euro fell to $1.067. Tesla shares jumped 7% in pre-market trading, pushing the company's market cap past $1 trillion. This surge added about $32 billion to Elon Musk's wealth, reflecting investor optimism about Trump's potential policies. Markets expect Trump to favor a light regulatory approach, particularly for the crypto industry. With Republicans likely controlling both chambers of Congress, investors are betting on favorable legislation and tax cuts.