Bitcoin Price Tops $80,000 for First Time as Trump Win Boosts Crypto Market

Bitcoin all-time high? It keeps happening, over and over again the last few days.

But this one’s an especially notable one, as Bitcoin rose above $80,000 early Sunday for the first time ever. Coinbase data shows that the leading cryptocurrency touched a high mark of $80,137.

Even by the past week’s standards, Bitcoin really saw a jump overnight, rising from a level just above $77,000 to breach the $80K mark. Bitcoin had been holding onto an all-time high price mark of $73,737 from March, going into Election Day, but rose above that mark Tuesday evening as Donald Trump’s election win took shape.

The U.S. president-elect made cryptocurrency a key part of his campaign this year, promising to protect and boost the industry in America and end the Securities and Exchange Commission’s crypto crackdown.

Bitcoin is now up nearly 17% on the week at a current price of $79,875, down slightly from the peak from earlier this morning.

Other major cryptocurrencies have marked even larger gains over the past week, however, with Cardano up a whopping 86%, Dogecoin popping 66%, and even Ethereum—which is notably lagged Bitcoin’s gains in recent months—jumping 31% over renewed decentralized finance (DeFi) optimism.