Barack Obama victory speech: Obama thanks America for support (VIDEO)

President Barack Obama delivered a victory speech to his supporters after winning the presidential election over Republican nominee Mitt Romney.

"Tonight in this election you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the United States of America, the best is yet to come," he said to his followers.

"We are an American family and we rise or fall together as one nation," he told supporters at his campaign headquarters in his hometown of Chicago, Illinois, and millions watching on television.

"The best is yet to come," he added, after walking on stage with his wife Michelle and daughters Malia and Sasha to tumultuous cheers.

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