Why crypto mania is reaching new heights

Donald Trump’s victory has a flavour of revenge—not just for the man but also for crypto bros and their assets of choice. Over the course of election night, as it became clear Mr Trump had won America’s presidential election, the price of bitcoin, the most widely traded cryptocurrency, jumped by 10%. On November 11th, as Republicans edged closer to taking control of Congress, it hit a record $89,000. Since mid October it has surged by 45% (see chart).