Bitcoin hits new all time high of $75,242 as Trump takes an early lead on election day

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Bitcoin has reached a new all-time high of $75,242 as Republican candidate Donald Trump takes an early lead in the polls, with 95 wins out of the 135 electoral votes counted so far. Data from a popular offshore crypto-based betting platform, Polymarket, shows Trump’s winning rate has gone up to 93%, while Kamala Harris’s winning rate sits at 7.7%.

The U.S. presidential election race between former President Donald Trump and serving Vice President Kamala Harris has largely remained tight during the campaign period. However, Trump has taken an early lead with 210 votes, while Kamala Harris trails with 133 votes, according to the latest data from the Associated Press.

Donald Trump flips Kamala Harris on every bet odd on Polymarket

Data from Polymarket, an offshore crypto betting platform, shows Trump’s winning probability is up 93% at the time of this publication. Democrat candidate Kamala Harris trails behind Trump with about 7%. 

Meanwhile, Bitcoin hit a new all-time high of $75,242, outpacing its previous record of $73,780 set in March. The asset is up 9.07% in the last 24 hours as election activities intensify in the U.S. Either of the two candidates needs 270 electoral votes to win the race and secure the presidency.

As the election results continue to unfold, a new class of Trump-supporting whales has emerged on Polymarket, placing millions of dollars in bets behind the candidate. A user on the platform with the pseudonym “zxgngl” has placed bets worth $18 million on Trump winning the elections. If the Republican candidate emerges victorious, the user will secure more than $29 million, according to blockchain intelligence firm Arkham.

 

This is a developing story

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