Bitcoin smashes all time high on expected Trump victory

Crypto markets roared on Tuesday night as investors, anticipating a victory for Donald Trump, sent the price of Bitcoin towards $75,000

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That amounts to an all time for the original cryptocurrency, which hit $73,000 in March

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Trump and the Republican party fully embraced crypto in the summer, resulting in massive financial support from the industry

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The likelihood of a Trump victory also came as validation for the crypto-based betting site Polymarket

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whose prediction markets have pointed to a victory for the Republican candidate for weeks

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At the outset of election day, the site favored Trump by around 58% but, by late Tuesday evening

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Ethereum, the second biggest cryptocurrency, jumped by around 7% while No. 3 cryptocurrency Solana gained around 15%

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