Bitcoin trades to 3 1/2-week high above $6,500

Bitcoin prices moved higher Wednesday, trading above $6,500 for the first time since mid-October.

A single bitcoin

BTCUSD, +1.38%

 was last changing hands at $6,523.57, up 1.3% since Tuesday at 5 p.m. Eastern Time on the Kraken exchange. The move higher in the world’s largest digital currency has dragged the market cap for all cryptocurrencies above $220 billion for the first time in a month, according to data from CoinMarketCap.

Read: Opinion: Voting by blockchain could add new risks to our elections — including fraud

Tuesday’s midterms weren’t a complete nonevent for the crypto community. In Colorado, voters elected a pro-crypto and blockchain governor in Jared Polis. The Democrat has long campaigned for decentralized technology to help local business.

“As governor, I will ensure that Colorado explores the potential use of blockchain technology and works alongside the business community, policy experts, local communities, and Coloradans to build a robust economy for the future,” he wrote in a blockchain campaign paper.

Elsewhere, Gavin Newsom was elected governor of California. The Democrat was one of the first politicians to accept donations in bitcoin back in 2014.

Read: Mining bitcoin is 3 times more expensive than mining gold, research paper finds

What are altcoins and futures doing?

Altcoins, the collective group of coins other than bitcoin, are off to a mixed start Wednesday. Ether

ETHUSD, +1.82%

was trading 1.5% higher at $219.05, Bitcoin Cash

BCHUSD, +3.21%

was up 2.8% at $630.80, Litecoin

LTCUSD, -0.02%

lost 0.2% to trade at $54.74 and XRP,

XRPUSD, -1.03%

was down 1.6% at 53 cents.

Bitcoin futures rose with spot prices. The Cboe Global Markets November contract

XBTX8, +1.52%

was up 1.3% at $6,500, while the CME Group November contract


was also up 1.3% at $6,500.

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