Bitcoin hits record high after Trump election victory

Bitcoin reached a record high of over $81,000 on Monday, following Donald Trump's victory in the U.S. presidential election. This surge reflects optimism for a more favorable regulatory environment for cryptocurrencies, as pro-crypto candidates also won congressional seats. The price of Bitcoin has more than doubled since its low of $38,505 in January. Ether, another major cryptocurrency, rose above $3,200 for the first time in over three months, indicating a broader market rally. The cryptocurrency industry invested over $119 million in supporting pro-crypto candidates, aiming for legislation that promotes digital assets. The recent election results may lead to a Congress more supportive of cryptocurrency initiatives.