Bitcoin Hits Record $75,393 as Trump Declares Victory and Pledges 'Strategic Bitcoin Reserve'

Nov 6, 2024, 06:41 AM

Bitcoin has surged to a new all-time high, reaching $75,393, as traders watch the US election results. The cryptocurrency's price increase coincides with early indications that Donald Trump is leading in the 2024 US presidential election, with the New York Times estimating an 89% chance of Trump securing over 270 electoral college votes. Trump's odds have passed 75% on Polymarket, which has seen $280 million in volume. The former president has declared election victory and pledged to make America 'the crypto capital of the planet' and create a 'strategic reserve' of bitcoin. Investors are betting on a Trump victory, viewing him as a pro-crypto candidate. The sharp price surge has led to significant liquidations in the market, totaling $482 million. Traders are closely monitoring the election outcome.