Bitcoin broke through the $98,000 mark yesterday, setting a new record, as investors continue to celebrate Donald Trump’s victory in the US presidential election, betting that it will bring good times for the cryptocurrency industry.

The world’s most popular cryptocurrency rose another four percent to $98,342, Bloomberg reported. The price of bitcoin has risen 40 percent since the November 5 election, breaking a series of new records, the Financial Times reports.

Bitcoin broke through the $98,000 mark on Thursday, setting a new record, as investors continued to celebrate Donald Trump’s victory in the US presidential election, betting that it would usher in a good time for the cryptocurrency industry.

The world’s most popular cryptocurrency rose another four percent to $98,342, Bloomberg reported. Bitcoin’s price has surged 40 percent since the election on November 5, breaking a string of new records, the Financial Times reported.

During his campaign, Trump loudly promoted cryptocurrencies, promising to make America “the world’s bitcoin superpower” and create a “strategic reserve” of the token.

His rhetoric has excited investors who are betting on an influx of institutional capital into the cryptocurrency sector.

Bitcoin surged above $94,000 earlier this week after reports that the US president-elect’s company, Trump Media and Technology Group, was in talks to buy cryptocurrency trading firm Bakkt. The news further fueled expectations that the incoming Trump administration would be friendly to cryptocurrencies.