Investing.com– Bitcoin rose to a record high on Wednesday as early vote tallies showed Donald Trump ahead in the 2024 presidential election, raising hopes of friendlier regulation.
Soared nearly 10% to a record high of $74,847.2.
Broader crypto prices also strengthened, with the world's no.2 cryptocurrency rising 9.1% to $2,622.90.
Cryptocurrency prices jumped sharply after the vote count at 22:10 ET (03:10 GMT) showed Trump leading with 198 electoral votes, while Kamala Harris had 109 votes.
Coverage from the Associated Press shows that Trump is also leading in the battleground states of Pennsylvania, Arizona, North Carolina and Wisconsin.
Crypto markets welcomed the prospect of a Trump presidency, noting that he had maintained a pro-crypto stance in his campaign, and also promised to enact industry-friendly regulations.