Cryptocurrency boosters are expecting the president-elect’s economic team to be crypto-friendly

The price of bitcoin scaled a fresh all-time high on Wednesday, soaring above $93,000 as cryptocurrency investors continued to cheer the election victory of Donald Trump.

Dogecoin, a meme coin previously backed by Elon Musk, has risen as much as 150% in value since election day. It continued to rise after the president-elect announced that Musk and Vivek Ramaswamy would lead the so-called Department of Government Efficiency (Doge), a new outside advisory group.