Bitcoin Rallies Past $82,000 for the First Time, Boosted by Trump's Embrace of Digital Assets
- DDDOriginal
- 2024-11-12 03:30:091136browse
With a market cap of $1.16 trillion, Bitcoin now ranks among the top 10 global financial assets, surpassing major corporations like Visa.
Bitcoin price soared past $82,000 on Monday for the first time ever, buoyed by President-elect Donald Trump’s pledge to make the US the crypto capital of the world.
Bitcoin added 6.1% to hit a record $82,300 on Monday, continuing its rally after Trump was declared the victor in Arizona on Sunday.
The world’s largest token now ranks among the top 10 global financial assets, with a market capitalization of $1.16 trillion, besting major corporations like Visa.
The bullish sentiment also lifted smaller coins like Dogecoin, while Bitcoin has surged about 94% in 2024.
Robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve have fueled Bitcoin’s rally this year.
The ETFs posted a record daily net inflow of nearly $1.4 billion on Thursday, data compiled by Bloomberg showed.
During his campaign, Trump-promised to legalize crypto mining at the federal level and turn the United States into the crypto capital of the planet.
Trump was projected the victor in Arizona on Sunday, giving him a clean sweep of the seven US battleground states.
Coinbase shares surged 48% for the week, marking the strongest performance since January 2023.
Coinbase was one of the top corporate donors in the election cycle, giving more than $75 million to Fairshake and its affiliate PACs, including a fresh pledge of $25 million to support the pro-crypto super PAC in the 2026 midterms.
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