Bitcoin surpasses $80,000 for first time after Trump's election victory

Bitcoin's price has surpassed $80,000 for the first time, following Donald Trump's election victory over Kamala Harris. This marks an increase of over 80% this year, with bitcoin's market cap reaching $1.6 trillion. Richard Teng, CEO of Binance, stated that Trump's win is a "big win for crypto," suggesting it could lead to more favorable regulations for digital currencies. Trump's campaign included crypto-friendly promises, which attracted significant donations in cryptocurrencies. Bitcoin's market cap has more than quadrupled since January, surpassing major companies like Meta, Tesla, and Berkshire Hathaway. Ether, the second-largest cryptocurrency, has also seen its market cap more than double this year.