Bitcoin reaches record high of over $87,000 following Trump's election victory

Bitcoin has reached a new record high, surpassing $87,000 for the first time. This surge follows Donald Trump's recent election victory, with bitcoin rising over 28% in the past week. The rally is attributed to expectations of a more favorable regulatory environment for cryptocurrencies. Trump's administration is seen as potentially supportive of the crypto industry, contrasting with previous regulatory pressures. His campaign embraced cryptocurrencies, and he has promised to make the U.S. a leader in the sector. Spot bitcoin exchange-traded funds have also contributed to the recent price increases. Despite the gains, experts caution about the volatility of cryptocurrencies. Investors are advised to only invest what they can afford to lose, as past price swings have been significant. The environmental impact of bitcoin mining remains a concern, particularly regarding energy consumption.