Bitcoin hit $80,000 for the first time, as investors continued to digest the implications of a second term for President-elect Donald Trump. Bitcoin has been deemed a safe asset regardless of the outcome of the election Smaller coins,

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8%.

Donald Trump's return to the White House is seen as a positive development for crypto regulation and the potential development of a strategic bitcoin stockpile.