While the race for the White House seemed like a dead heat, crypto investors remained confident in a Trump win. When those hopes were realized early on Wednesday, industry leaders took a victory lap as Bitcoin reached an all-time high.

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8%.

Key Takeaways Trump's win is seen as a positive development for crypto — as illustrated by the latest rise of bitcoin prices, which earlier touched record highs. More regulatory clarity for stablecoins and crypto assets generally could see progress in Congress as more pro-crypto lawmakers take office.