Bitcoin reached a new all-time high passing $75,000 as early US election results indicated a Trump win. The cryptocurrency market reacted positively, with bitcoin exceeding it’s prior peak or $73,750.

Donald Trump has been confirmed as the 47th US president securing 277 electoral votes and in the process securing the so-called swing states like Wisconsin and Pennsylvania.

“If Trump establishes a national bitcoin reserve and a crypto advisory council, the US could lead in digital assets“ said Edul Patel, CEO of Mudrex who has noted a distinct rising retail participation in Bitcoin since Trump’s win.

The dollar index rose 1.9% and US treasury yields climbed, signalling market confidence in Trump’s victory.

Other crypto currencies such as Solana, Dogecoin and XRP also saw gains. Bitcoins market cap topped $1.445 trillion dominating 59.86% of the market.