Over 75,000 dollars

Bitcoin climbs to record high on US election night

Bitcoin has risen to a record high of just over 75,000 dollars after the US elections. On the Bitstamp platform, the price climbed to 75,080 dollars (68,900 euros) after the polls closed. The oldest and best-known cryptocurrency has never been so expensive.

Bitcoin reached its previous all-time high on March 13, 2024 with a price of USD 73,738. However, Bitcoin was unable to hold the level above USD 75,000 for long, as a number of investors took the opportunity to take profits. On Wednesday morning, however, one Bitcoin still cost just under 73,000 dollars, around 4,000 dollars or a good five percent more than late Tuesday evening.

Trump had declared himself the winner of the US presidential election early on Wednesday morning. After the first counts, the Republican candidate led his rival Kamala Harris by a margin that was almost impossible to catch up on. According to initial counts, the 78-year-old had won the US states of North Carolina, Pennsylvania and Georgia, among others, which were important for the outcome of the election.

From critic to supporter
Trump had made very negative comments about Bitcoin during his presidency (2016-2020). In the current battle for votes, however, the former US president actively courted the crypto community. During the election campaign, he accepted donations in various cryptocurrencies such as Bitcoin, Ether, Dogecoin and Solana.

At a major Bitcoin conference in Nashville, Trump promised to leave the crypto market largely unregulated and to provide cheap electricity for the calculation of new Bitcoin coins ("mining").

On election night, the second most important cryptocurrency, ether, also rose by around six percent. However, unlike Bitcoin, the digital coin on the Ethereum blockchain is still a long way off its all-time high. Ether's highest price was 4878 dollars and was reached on November 10, 2021. The current price is just under 2600 dollars.