Bitcoin surged above $81,000 for the first time on Monday, as President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress with crypto-friendly lawmakers helped boost the cryptocurrency .
Trump’s decisive victory in the presidential election has prompted celebration in the digital asset industry, which has spent more than $100 million to support a range of pro-crypto candidates .
The largest cryptocurrency rose about 6.1% on Sunday, before extending gains to an all-time high of $81,497 early in Asian trading on Monday .
Bullish sentiment has also pushed prices higher in smaller coins, including Dogecoin, the meme-favorite coin promoted by Trump supporter Elon Musk .
given the perception that Trump is pro-crypto, and that’s what we’re seeing now ,” said Li Shi, managing director of Hong Kong-based market maker Auros .
Bitcoin is a decentralized digital currency founded in 2009 by an anonymous group of people under the name “Satoshi Nakamoto”. It is the first cryptocurrency and operates on blockchain technology, which allows transactions to be recorded in a secure and tamper-proof manner .
Bitcoin is distinguished by the fact that there is no central authority controlling it, such as banks or governments, which makes it resistant to inflation and government control .
Bitcoin is traded online using digital wallets, and can be used as a payment tool for purchasing goods and services or as an investment .
Bitcoin is characterized by large fluctuations in its value, which makes it vulnerable to risks, but at the same time it is one of the assets that investors closely monitor.
