The price of bitcoin has risen above $80,000 (£62,000) for the first time ever, after Donald Trump's decisive victory in the US election last week. It comes as the Republicans are edging closer to overall control of Congress after having already secured the presidency and a majority in the Senate.

A bevy of smaller cryptocurrencies outperformed market-leader Bitcoin in recent days as enthusiasm about the sector’s prospects under President-elect Donald Trump encouraged a wave of speculative bets.

The price of bitcoin topped $80,000 for the first time Sunday, extending a rally fueled by crypto optimism following Donald Trump’s election win.

By Ankur Banerjee SINGAPORE (Reuters) -Bitcoin soared to a record high above $81,000 on Monday on expectations that cryptocurrencies will boom in a favourable regulatory environment following the election of Donald Trump as U.

Bitcoin rallied past $81,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.

Bitcoin soared to record high of over $81,000 on Monday as Donald Trump's victory in the U.S. presidential election along with pro-crypto candidates being voted to the Congress spurred expectations of a light-handed regulatory environment.