Bitcoin price became a real-time indicator of the outcome during the election

New elections were held in the United States to elect the country’s 47th president. Millions of Americans voted. In this context, the results during the trip were unclear. Both Donald Trump and Kamala Harris’ campaigns saw positive results, with major media outlets reporting a slight difference in favor of Democratic candidate Harris. Bitcoin price hit a new all-time high, turning it into a different but accurate information channel after Trump’s victory. According to data from price and information aggregator Coingecko, Bitcoin rose from $68,734 on Tuesday morning to a new high of $75,434 on Wednesday.

Bitcoin Price: A New Political Map

On Election Day, several prominent media outlets showed Democratic Party winning tendencies. Even major polls and models like Selzer’s and The Economist’s have mentioned it before.

But in Bitcoin land, the price followed a different trend. The Trump campaign focused heavily on Bitcoin and crypto. Industry insiders like David Bailey of Bitcoin Inc. David Marcus of Lightspark and Ryan Selkis of Messari supported Trump early on. The now president-elect even attended the Nashville Bitcoin Conference in July and congratulated Bitcoin White Paper Day just a week ago.

Trump’s agenda is believed to be closely tied to the future of Bitcoin in America, and so the price signaled a good day for Republicans. Trump’s Vice President JD Vance is well known among crypto investors and there are also several campaign promises that have a lot to do with the crypto industry.

Commuting Silk Road creator Ross Ulbritch’s sentence includes, among other things, the removal of Securities and Exchange Commission President Gary Gensler and the creation of “the Strategic National Bitcoin Stockpile” – as Reuters reported in late July.

“If you think BTC is not a good indicator to keep an eye on today, let me know why… In my opinion it seems to be a clean indicator since it was a theme in the campaign, stocks and bonds less,” said senior exchange-traded Bloomberg fund analyst Eric Balchunas, reporting the price’s first positive move of 1% early on the morning of Election Day.

As the numbers began circulating that technically gave Trump the victory, BTC price rose to a new historic mark of over $75,300. Prediction markets like Kalshi also showed a positive outcome for Trump.

On Wednesday, BlackRock’s Bitcoin ETF IBIT recorded $1 billion in volume in the first 20 minutes after the market opened, making it an important reference among investors. In the last 24 hours, BTC price increased by 7% and reached a new all-time high at the time of publication.

Bitcoin and crypto people react to the election

MicroStrategy’s chief executive officer expressed the community’s sentiment in a simple way: “We have a Bitcoin president,” he posted on X.

However, keeping the Trump administration’s promises is also a top priority in the community’s response. For example, Pierre Rochard, vice president of research at Riot Platforms, vouched for Ulbricht’s cause and the strategic Bitcoin reserve.

“After the release of Ross Ulbricht, the political agenda should focus on the establishment of the strategic Bitcoin reserve. Urgency and focus are needed, Bitcoin accumulation is obviously a far greater strategic priority than ‘crypto regulations’ or other distractions,” Rochard wrote on X.

Even Bitcoin-friendly Senator Cynthia Lummis of Wyoming posted a message in all caps: “We will build a strategic Bitcoin reserve.”

Brian Armstrong, CEO of Coinbase, congratulated the congress

“Welcome to the new members of America’s most crypto-friendly Congress ever… More than 219 pro-crypto candidates and counting have now been elected to the House and Senate. Tonight, the crypto voter spoke decisively across party lines and key races.” “Americans care deeply about cryptocurrencies and want clear rules for digital assets. We look forward to working with the new Congress,” Armstrong wrote.

Polymarket also reported on the Bitcoin beat

Crypto-native prediction market Polymarket signaled favorable odds for Republican candidate Trump throughout the day. Despite some volatility over the weekend, particularly in Pennsylvania, Polymarket odds continued to signal a positive outcome for Republicans and Trump. According to the platform, the main market had a volume of over $3.6 billion.

“Millions of people are tuning into Polymarket right now to get a clearer sense of what’s happening. Welcome to the future of news,” the company posted via its official

With Bitcoin hitting a new historic price and Polymarket closing presidential election betting markets following calls from the AP, Fox News and NBC, these now appear to be two new sources of understanding US politics that will provide a new one to the wider public could bring about an upswing.