Bitcoin prices hit $80,000 for the first time on Sunday. The president-elect has vowed to ease the regulatory burden on crypto and create a reserve to hold the nation’s bitcoin supply.

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.

Now that Donald Trump has gone from being a former president to the new president-elect, many are wondering how his electoral victory will impact the crypto industry, and whether or not now is the time to invest.