Bitcoin surges to record high over $83,000 following Trump election victory

Bitcoin reached a new all-time high, soaring past $83,000, as the cryptocurrency market responded positively to President-elect Donald Trump’s victory and expectations of his administration’s pro-crypto policies.

Trump’s sweeping success across all seven U.S. battleground states, including a pivotal win in Arizona, has fueled optimism among investors about a potential era of digital asset support.

The largest cryptocurrency surged 6.1% on Sunday, further climbing to $83,300 by press time.

Bitcoin hits $80,000 for first time amid optimism over Trump

The market’s optimism lifted other tokens as well, including Dogecoin, a meme-based coin popularized by billionaire Elon Musk, a Trump supporter.

“With the dust from Trump’s victory still settling, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto,” commented Le Shi, Hong Kong managing director at market-making firm Auros.

Trump’s campaign promises to prioritize the US digital-asset sector—including a strategic Bitcoin stockpile and pro-crypto regulatory appointments—have invigorated the industry.

Cryptocurrency supporters contributed over $100 million to back crypto-friendly candidates, hoping to see swift regulatory advances.

The President-elect’s broader agenda of tax cuts, reduced regulatory barriers, and growth-focused economic reforms has also spurred gains across stocks, credit, and crypto markets. The S&P 500 reached its 50th record high of the year last week, reflecting the market’s buoyant response to Trump’s pro-business policies.

As Trump’s transition team begins, traders remain optimistic, pushing aside concerns about the feasibility or timeline for implementing his crypto-related pledges.

For now, the market’s bullish sentiment underscores the digital-asset industry’s confidence in a pro-crypto White House.