The price of bitcoin reached a record high Sunday, continuing its post-election surge as President-elect Donald Trump has promised to bolster the industry.

Bitcoin on Sunday hit a new record above $80,000. The world’s largest cryptocurrency surged in the run-up to Tuesday’s US presidential election, rose sharply immediately on election night after it became clear Donald Trump would win and has continued rising in the days since his victory.

Bitcoin has added about 91% so far in 2024, helped by robust demand for dedicated US exchange-traded funds and interest-rate cuts by the Federal Reserve. The rise in the largest digital token, which scaled fresh records after the US vote, exceeds the returns from investments such as stocks and gold.