Trump, once a cryptocurrency skeptic, became an outspoken supporter of the digital asset class during his presidential campaign.

The week has been a whirlwind of cryptocurrency news, with El Salvador’s Bitcoin gamble paying off and Standard Chartered predicting a massive surge in the digital assets market. Meanwhile, Detroit is set to become the first major U.

Trump’s current stance on crypto is a major departure from his last term as president. In the summer of 2019, Trump criticized cryptocurrency on social media, claiming it could be used to facilitate illegal activities. And during his presidency, the Trump administration’s regulatory actions included the SEC’s controversial lawsuit against Ripple.

Bitcoin rallied past $81,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.

Bitcoin on Sunday hit a new record above $80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

Cryptocurrencies extended their rally on Sunday, with bitcoin touching $80,000 for the first time ever. The price of the flagship cryptocurrency was last higher by 4.5% at $79,800.19, according to Coin Metrics.

The cryptocurrency rose by 4.5 per cent on the day to reach its highest-ever price - the equivalent of £61,943.49.

Bitcoin soared past $80,000, reaching a new all-time high, fueled by expectations of favorable regulations under the new administration. President-elect Trump's pro-crypto stance and the Republican Party's strong performance in the election sparked a surge in investor confidence.