Bitcoin reached a new milestone on Sunday, crossing the $80,000 mark. This surge came after a rally in the days following Donald Trump’s victory in the U.S. presidential election.

While Trump had once expressed skepticism about cryptocurrency, calling it “based on thin air,” he has become a strong proponent of crypto in recent months. This shift in stance is partly due to his financial investment in the space, with Trump and his family launching World Liberty Financial, a crypto business.

Trump’s positive outlook on crypto contrasts sharply with the Biden administration’s regulatory efforts, which have been more cautious and critical of the industry. Trump has also suggested creating a national bitcoin reserve, further signaling his commitment to crypto as a key part of America’s future financial strategy.