Bitcoin hits new record high

Bitcoin surged to a record high above $86,000 on Tuesday amid expectations that cryptocurrencies will thrive in a favorable regulatory environment after Donald Trump was elected US president and cryptocurrency advocates ran for Congress.

The price of the major cryptocurrency rose 8.64% to $86,138.39, according to Coin Metrics.

Ether also rose 4%, following a 30% gain last week that took it above $3,000 over the weekend.