By Vicky Ge Huang
The price of bitcoin soared to a fresh record Tuesday night as election results continued to trickle in. The largest cryptocurrency by market value traded at $74,443 as of 10:20 p.m. ET, surpassing its previous all-time intraday high of $73,798 on March 14, according to CoinDesk data.
Bitcoin is increasingly viewed as a “Trump trade” after Donald Trump embraced crypto as part of his agenda earlier this year. The Republican presidential candidate made a series of promises to the crypto industry and vowed to make the U.S. the “crypto capital of the planet.” The crypto industry also believes it will get an easier regulatory ride under Trump. Democratic candidate Kamala Harris, who hasn’t spoken about crypto at length in public, has also said she will support digital assets.
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