Bitcoin Surges Past $81,000 as Trump’s Election Fuels Cryptocurrency Momentum

SINGAPORE – Bitcoin hit a record-breaking $81,899 on Monday, driven by optimism over a crypto-friendly regulatory landscape following Donald Trump’s U.S. presidential election victory and a surge in pro-crypto candidates elected to Congress. The leading cryptocurrency has now more than doubled from its yearly low of $38,505.

During his campaign, Trump pledged to make the U.S. a global hub for cryptocurrency and hinted at building a national reserve of Bitcoin. This, along with his commitment to oust SEC Chair Gary Gensler—who has enforced tighter crypto regulations—has boosted investor confidence. The “Trump-pump,” as some analysts call it, reflects expectations that a Republican-controlled Congress could ease restrictions on digital assets.

“The market anticipates reduced scrutiny and broader support for digital currency,” said Matt Simpson, senior market analyst at City Index. Despite other “Trump trades” like U.S. stocks and bond shorts softening, the crypto sector remains strong.

Additionally, the cryptocurrency sector spent over $119 million to support pro-crypto Congressional candidates, with success in states such as Ohio, Michigan, and North Carolina. Trump also recently introduced a new crypto business, World Liberty Financial, signaling his personal commitment to the industry.