The total value of virtual currency bitcoin is now a very real $1.6 trillion
Bitcoin’s price just hit $82,000.
In the world of crypto, the Trump Pump is real and showing few signs of slowing down.
During his campaign, the president-elect put out a video on X announcing his plans to ensure that the US would become the “crypto capital of the planet.” Since his victory on Wednesday, investors have basked in that optimism, sending all sorts of digital assets soaring over the last seven days or so.
Bitcoin, the original and biggest cryptocurrency, reached an all-time high on election night itself, and has been pushing the record further in the days since, exceeding a price of $82,000 per bitcoin for the first time ever. It’s never just the biggest boat lifted by the rising tide, however: ethereum is up ~30% since the election, dogecoin has almost doubled over the last week, and shares in crypto-exchange giant Coinbase, which hailed the incoming Congress as the “most pro-crypto Congress in history,” have jumped by over 50% in the last five days (and are soaring again this morning). In fact, almost every bitcoin-linked stock is making gains.
The move in bitcoin means that at current prices — which, as anyone who knows anything about crypto will likely remind you, can change very quickly — all the bitcoin in the world is now worth some $1.63 trillion. That’s roughly equivalent to the GDP of Spain, and it’s more than what Mark Zuckerberg’s Big Tech behemoth Meta is worth at the time of writing.
