Bitcoin soared to new heights on Monday, with the cryptocurrency surging nearly 15% to shatter its all-time high and briefly breach the $89,000 mark. This historic rally was fueled by renewed optimism surrounding the digital asset following Donald Trump's stunning victory in the U.S. presidential election.
The rally gained momentum after Trump made pro-crypto comments on the campaign trail, vowing to make the United States the "crypto capital of the planet" and establish a national bitcoin reserve. His promises of a friendlier regulatory environment for cryptocurrencies resonated with investors, sparking a buying frenzy that propelled bitcoin to unprecedented levels.
Beyond bitcoin, the broader crypto market also surged, with ethereum and other major digital currencies posting substantial gains. Crypto-related stocks such as Coinbase and MicroStrategy soared as well, reflecting the growing enthusiasm for the industry under a Trump administration expected to embrace innovation in the sector.