In the latest bout of momentum, Bitcoin hit a new all time high on Friday, Nov. 8, upping its value to $77,000, its second record in a row. It took just 48 hours after Donald Trump closed in his U.S. presidential election win and the election of several pro crypto policymakers to Congress for the milestone–$77,020
This surge has pushed Bitcoin on course to become the world’s ninth most expensive asset at $1.5 trillion in whopping market cap, eclipsing Meta.Bitcoins year-to-date growth is over 118%, up 25% in the past month fueled by seasonal trends and historical data regarding halving year indicating bitcoin was headed for the bulls.
Bitcoin’s Post-Election Surge Spurs Policy Push and Record Investment
In the last two election cycles Bitcoin has always consistently hit new high levels post-election, never to fall back to pre-election levels.It was the first time that cryptocurrency funding shaped U.S. political action committees; and if that’s any indicator, it also bodes well for potential progressive regulatory shifts.
To that end, Wyoming Senator Cynthia Lummis, a firm BTC proponent, is pushing a BTC targeted bill integrating a strategic purchase plan, suggesting that the US government will snatch 1 million BTC within 5 years and it will cost the US government about $77 billion to do it in present price.
A great many people, including Michael Saylor, are high profile crypto supporters who are bullish on Bitcoin’s future and predict it will reach $100,000 by the end of the year and even $200,000 by 2025. BTC has already seen $72 billion invested through exchange traded funds, Detroit and Wyoming are both exploring ways of adopting BTC. Crypto focused super PAC Fairshake, with A16z crypto and Coinbase backing, has raised $78.5 million for the 2026 midterms as crypto advocates continue to show interest following Trump’s 2024 victory.
