Business

Bitcoin, world’s largest cryptocurrency, reaches a new record high

By Jalen Fong, CNN Newsource, Dillon Fuhrman

November 12, 2024 7:03 AM

Published November 12, 2024 7:22 AM

(CNN, KYMA/KECY) - Bitcoin has reached a new record high. The world's largest cryptocurrency briefly touched $80,000 for the first time Sunday.

Bitcoin surged in the run-up to Tuesday's election and surged once it became clear Donald Trump would win.

It has since continued to rise following the president-elect's victory, which investors believe is a bullish sign for the crypto industry.

Trump has fully embraced crypto in recent months and said he wants it to be mined and minted in the U.S. He has also proposed to launch a strategic national bitcoin stockpile.

Trump's embrace of crypto is in contrast to the Biden administration, which has sought to rein in crypto.

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Jalen Fong

Jalen joined KYMA in 2022 and is a morning anchor/producer. Send your story ideas to him at: jalen.fong@kecytv.com

CNN Newsource

Dillon Fuhrman

If you have any story ideas, reach out to him at dillon.fuhrman@kecytv.com.

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