Bitcoin hits $80,000 for first time on Trump optimism

Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to the White House will be good for the cryptocurrency.

The digital currency passed $80,000 for the first time in its history shortly after 12:00 pm (1200 GMT).

It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.