Bitcoin surged to a new record high as traders bet on Donald Trump winning the US presidential race, and he is considered a pro-crypto candidate.
The digital currency reached as high as $75,005.08, surpassing its previous all-time peak of $73,797.98 reached in March.
"Bitcoin's price is closely tracking Trump's position in the polls," said analyst Russ Mould.
Investors are "potentially buying into the view that a Republican victory would lead to a surge in demand for the digital currency," he added.
During his presidency, Trump called cryptocurrencies a scam, but has since radically changed his position, even launching his own platform.
"Trump's victory could be the catalyst that pushes the world's first and largest cryptocurrency into uncharted territory," said deVere's Nigel Green.
"His return to office is likely to have a positive effect on deregulation, tax incentives and economic policies favorable to alternative investments such as bitcoin," Green added. | BGNES, AFP
