Bloomberg) -- Bitcoin held onto its biggest gain in a week as traders around the world awaited results of a US presidential election that pits digital-asset supporter Donald Trump against Kamala Harris, who served as vice president during a government crackdown on the industry.
Most Read from Bloomberg
The original cryptocurrency was little changed under $70,000 at 6:30 pm in New York, less than 6% below its March record set during the euphoria that followed January’s launch of US spot-Bitcoin exchange-traded funds. Bitcoin’s 3.1% gain through 5 pm on Tuesday was its biggest advance since Oct. 29.
The token’s more than 60% advance in 2024 has topped traditional assets such as global stocks and gold.
Crypto muscled onto the high table of politics courtesy of a giant campaign-finance war chest funded by the industry to further its agenda. Bitcoin is viewed by some as a so-called Trump trade because Republican presidential nominee Trump embraced digital assets during his campaign.
