Bitcoin hit $80,000 for the first time, as investors continued to digest the implications of a second term for President-elect Donald Trump. Bitcoin has been deemed a safe asset regardless of the outcome of the election Smaller coins,

Bitcoin on Sunday hit a new record above $80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8%.