Miami, Florida – Bitcoin has hit a historic milestone, with its price surpassing $80,000 for the first time ever, following the recent victory of Donald Trump in the US election. The surge in Bitcoin’s value comes as the Republicans are on the brink of gaining control of Congress, in addition to securing the presidency and a majority in the Senate.

During his campaign, the president-elect expressed his commitment to establishing the US as “the crypto capital of the planet.” This vision, alongside the Republicans’ potential dominance in the government, has fueled optimism within the cryptocurrency market.

Not only has Bitcoin seen a significant increase of over 80% in value this year, but other cryptocurrencies like dogecoin, championed by prominent Trump supporter Elon Musk, are also experiencing gains. The anticipation of a Trump administration implementing crypto-friendly policies, including regulatory relaxations, has bolstered confidence in the industry.

Speculations arose when Trump indicated plans to dismiss the current chair of the Securities and Exchange Commission (SEC), Gary Gensler, who has led a campaign against the crypto industry. Market analysts predict that deregulation of crypto under the Trump administration could propel Bitcoin prices even higher, potentially reaching $100,000.

Despite the positive outlook, analysts warn of potential market volatility and unforeseen selloffs that could impact smaller investors. Trump’s broader economic agenda, which includes tax cuts and deregulation for businesses, has also triggered a surge in various investment sectors post-election.

With Republicans poised to control both the executive and legislative branches, they are expected to advance Trump’s policies through Congress, further influencing market trends. Major stock indexes, the US dollar, and bonds have all experienced notable gains in response to the post-election landscape.