Bitcoin hits record high of $87,000 after Trump's election victory

Bitcoin reached a new record high of $87,000 following Donald Trump's recent victory in the U.S. presidential election. This marks a significant increase of over 28% in just one week, driven by optimism about a more favorable regulatory environment for cryptocurrencies. Trump, who previously expressed skepticism about crypto, has embraced it during his campaign. He has promised to make the U.S. a leader in the crypto space and has taken steps to engage with the industry, including accepting campaign donations in cryptocurrency. The surge in Bitcoin's price is also linked to the success of spot Bitcoin exchange-traded funds (ETFs), which have attracted significant investment. However, experts caution that the cryptocurrency market remains highly volatile, and investors should be prepared for potential losses.