Bitcoin has hit a new milestone, surging above $80,000 for the first time ever.
Early Sunday, data from Coinbase revealed that Bitcoin reached an all-time high of $80,137, reflecting significant gains from the previous week’s levels of around $73,737. This latest rally was largely driven by renewed investor confidence following Donald Trump’s presidential election victory, which is anticipated to bring a more favorable regulatory environment for cryptocurrencies.
Trump’s campaign promises included commitments to protect and strengthen the U.S. crypto industry, ending regulatory crackdowns led by the Securities and Exchange Commission (SEC). The expectation of these policy shifts has spurred investor optimism, boosting not only Bitcoin but also other major cryptocurrencies.
Over the past week, Cardano has skyrocketed 86%, Dogecoin is up 66%, and Ethereum—often outpaced by Bitcoin in recent months—has gained 31% amid renewed interest in decentralized finance (DeFi).
At its peak, Bitcoin’s price rose above $80,000 before stabilizing around $79,875, marking a 17% gain for the week. This surge in value has pushed the global cryptocurrency market cap above $2.7 trillion, according to CoinMarketCap.
The positive sentiment extends beyond cryptocurrencies themselves, impacting companies with significant crypto investments. For example, MicroStrategy’s Bitcoin holdings have reached a value exceeding $16 billion, and Coinbase, a major cryptocurrency exchange, has also benefited from the uptick in market activity.
In the broader financial landscape, this crypto rally aligns with a general rise in market optimism, as the S&P 500 and Dow Jones Industrial Average recorded their best weeks of the year. Investors are now looking at a potentially historic period for cryptocurrency, as supportive policies from a new administration could further drive adoption and investment across the sector.
This historic rally highlights Bitcoin’s continued momentum as it breaks records and garners increasing attention from both individual and institutional investors worldwide.
