Bitcoin at $77k 48hrs after US elections
Bitcoin crossed $77,000 on Friday, Nov. 8, setting a new all-time high for the second consecutive day.
Bitcoin (BTC) reached a new all time high of $77,020 roughly 48 hours after Donald Trump won the U.S. presidential election, along with the election of several pro-crypto policymakers to Congress. With a market cap of $1.5 trillion, Bitcoin now ranks as the world’s ninth most valuable asset, surpassing Mark Zuckerberg’s Meta.
BTC’s year-to-date growth has exceeded 118% with this recent surge. Over the past 30 days, Bitcoin has increased by nearly 25% as seasonal trends and halving-year data indicated bullish prospects. During the last two election cycles, Bitcoin has reached new highs and has not returned to pre-election levels.
Policy plans
For the first time, crypto money played a significant role in funding political action committees, leading experts and opinion leaders to anticipate progressive digital asset regulations from Washington. A BTC bill from Wyoming Senator Cynthia Lummis appears to be a frontrunner in what could become a new crypto policy landscape.
Like President-elect Donald Trump, Sen. Lummis pushed for a strategic national Bitcoin reserve and more. The proposal from Lummis would implement a BTC buying plan, piling on America’s existing 203,000 Bitcoin stockpile.
Lummis suggested acquiring 1,000,000 BTC over five years, which would cost the U.S. an estimated $77 billion if Bitcoin’s price remained constant over that period.
Bitcoin price
BTC ambassadors like Michael Saylor and the larger crypto community predict prices are going higher. Targets of $100,000 by year’s end, and $200,000 by 2025 have mentioned by investors and experts alike.
Investors already splurged $72 billion buying into Bitcoin via Wall Street exchange-traded funds. State like Detroit and Wyoming have announced some form of Bitcoin adoption. Marshalled interests between crypto titans did not disband following victory in the 2024 U.S. elections.
Crypto-focused super PAC Fairshake has raised over $78 million for the 2026 mid-terms. The organization disclosed donations from A16z crypto and Coinbase even before the Associated Press declared voting results.
