Bitcoin surpasses $87,000 as Trump signals support for digital assets

Bitcoin has reached a new record high, surpassing $87,000 for the first time. This surge follows President-elect Donald Trump's support for digital assets and a Congress likely to favor pro-crypto legislation. Bitcoin has risen over 25% since last week's election. The increase in Bitcoin's value has also boosted smaller cryptocurrencies and shares of crypto-related companies. Notably, MicroStrategy and Coinbase saw their stock prices jump around 25%. Traders are now betting on Bitcoin reaching $100,000 by the end of the year. Trump's election marks a shift from the previous administration's stricter stance on cryptocurrencies. His plans include creating a Bitcoin stockpile and appointing supportive regulators, which has generated optimism in the crypto market.