**Bitcoin Soars to Record High Following 2024 Election**

Bitcoin prices surged to unprecedented levels over the weekend, coinciding with Donald Trump's victory in the 2024 U.S. presidential election. The cryptocurrency reached over $85,000 on Monday, a significant jump from its $68,000 value last Tuesday, marking Election Day. This increase represents a tremendous year-to-date gain of over 90%, with the majority of those gains occurring earlier in the year. Between March and November, bitcoin's price mostly fluctuated between $50,000 to $70,000.

Trump's victory appears to have fueled the recent rally, as he has expressed interest in establishing a strategic U.S. reserve of bitcoin. His administration is also expected to be crypto-friendly, with advisers like Robert F. Kennedy Jr., Elon Musk, and Vivek Ramaswamy. Ramaswamy, an entrepreneur, recently announced the integration of bitcoin into his asset management service.

Investor sentiment may also be influenced by concerns over potential inflation under Trump's administration. With anticipated policies such as tax cuts, immigration deportations, and tariffs, many believe these measures could drive up spending, wages, and basic goods prices. Noelle Acheson, a cryptocurrency news newsletter author, noted that these factors might contribute to the current uptick in bitcoin and other assets like gold.

The cryptocurrency market, more broadly, has been experiencing significant gains as well. Coinbase, the largest U.S. crypto exchange, saw its shares poised to rise by about 14% on Monday. Likewise, Robinhood, the popular app-based trading platform facilitating crypto trades, was set to hit an all-time high. Meanwhile, Dogecoin, a cryptocurrency initially started as a joke, has skyrocketed more than 160% over the past month, underscoring the renewed investor enthusiasm in the crypto sector.