Bitcoin hits record high above $81,000 following Trump election victory

Bitcoin reached a record high of over $81,000 on Monday, driven by expectations of a favorable regulatory environment following Donald Trump's election victory. This marks a significant increase from its low of $38,505 in January. The surge in Bitcoin's price reflects optimism among investors after many pro-crypto candidates won their congressional races. Smaller cryptocurrency Ether also rose above $3,200, its highest in over three months. The cryptocurrency industry invested over $119 million to support these candidates, aiming for legislation that promotes digital assets. The recent election results may lead to a Congress more supportive of cryptocurrency initiatives.