Bitcoin price hits all-time high at $89,000 as crypto market rallies

By Abubakar Yunusa

Bitcoin, the world’s largest cryptocurrency by market capitalisation, has surged to a fresh record high of $89,000.
The price of the cryptocurrency traded 9.6 percent higher on Tuesday morning, reaching $89,360, according to data obtained from coinmarketcap.com.
The digital currency has continued to rally since the conclusion of the United States presidential election.
Bitcoin started climbing on November 6, when Donald Trump, a Republican Party candidate, won the US presidential election. The digital asset reached $75,000 on that day.
On November 10, the cryptocurrency crossed $80,000.
Since the US elections, bitcoin has seen a bullish run, with the crypto market adding nearly $500 billion to its total value in less than a week.
The total cryptocurrency market capitalisation currently stands at $3.16 trillion, according to coinmarketcap.com.
Ethereum, the second-largest cryptocurrency by market capitalisation, also surged to $3,392 on Wednesday — up from the $3,220 traded on Sunday.
In May 2024, the Trump campaign announced that supporters could make donations in crypto, including bitcoin, ether, and dogecoin. The statement had signalled his support for digital currencies.
In October, the former US president began promoting World Liberty Financial, a crypto venture set up by his longtime business partners and others, according to the Financial Times.
World Liberty began selling its token to qualified investors to raise $300 million.On his part, Abu expressed eagerness to contribute to Equinix’s transformative work and help create a more connected, accessible digital landscape throughout Africa.
“I’m excited to be joining Equinix, as we share a common vision for expanding digital infrastructure across Africa,” he said.
“This mission is crucial for bringing life-enhancing services to the region and bridging the digital divide. By empowering both enterprises and individuals, we’re enabling broader participation in the global digital economy.”
Equinix also said Wole’s appointment as managing director for West African business follows shortly after the opening of its newest data center in Johannesburg.