Cryptocurrency assets have surged in the week since Donald Trump was re-elected President, as the industry looked ahead to what Coinbase CEO Brian Armstrong on Tuesday called the "dawn of a new crypto era.

Bitcoin price edged close to $90,000 early Tuesday as the postelection rally continues. Investors are betting that former President Donald Trump’s second term will boost cryptocurrencies because he has suggested more favorable regulation.

Although Trump is generally expected to reduce government support for electric vehicles, such as tax credits, analysts say this could actually benefit Tesla, the market leader in the US, making it harder for rivals to catch up.