Bitcoin Price Touches Record High, Looms Around $90,000; Elon Musk's Tesla Skyrockets After Trump Frenzy

The most valuable cryptocurrency in the world increased by more than 25 per cent since November 5 and reached USD 89,637 in Asia, making it one of the most noticeable movements in the week following the election.

The strongest cryptocurrency in the financial world, Bitcoin, rose to the record high level of USD 89,643 (Rs 75,65 lakh) per bitcoin, surging about 32.92 per cent from the level of USD 67,443 (Rs 56,91 lakh) per bitcoin, which was recorded on November 5, the day of the election.

On Tuesday, riding a wave of euphoria following Donald Trump's election as U.S. president and expectations that his administration will be crypto-friendly, Bitcoin was hovering around USD 90,000.

The bitcoin was trading at USD 88,531.27 per bitcoin with a very tiny decline of 0.05 per cent amounting to a USD 40.51 per bitcoin.

Rally in Tesla shares

As investors predict that Trump's friends and interests will prosper while he is in office, it is rising in tandem with Elon Musk's Tesla automaker, which has increased by almost 40 per cent since the results of the election were announced.

The Tesla chief, Elon Musk, added in excess of USD 20 billion on the next day of the election as Tesla shares rose to a 52-week high level of USD 358.64 per share on the US bourses.

From the day of the Us presidential election results, the tesla share have jumped more than 40 per cent on the US bourses.

The shares of Tesla Inc. started at USD 247.20 per share on November 5. rising about 41.59 per cent after the result, The shares went on to touch the 52-week high level of USD 358.64 per sahre on the US Bourses.

In the last trading session on the US bourses, the tesla share have surged almost 9 per cent pushing the price above USD 350.00 per share on the US bourses.