Bitcoin Price Hits Record High Above $75,000

Bitcoin surged to a new record high on Wednesday, exceeding $75,000 as traders bet on Republican candidate Donald Trump's victory in the U.S. presidential race. Trump, the billionaire, is widely seen as a supporter of cryptocurrencies.

At approximately 3:00 GMT, Bitcoin reached a value of $75,005.08, surpassing its previous all-time high of $73,797.98 set in March.

Meanwhile, the U.S. dollar also saw a significant boost, climbing over 1.5% against the yen and the euro in Asian trading on Wednesday. The increase was driven by market expectations of a Trump win.

Around 3:00 GMT, the dollar was up 1.71% against the Japanese yen, reaching 154.21 yen per dollar, and rose by 1.67% against the euro, trading at 0.9302 euros per dollar.