Key Takeaways
- Investments tied to cryptocurrencies surged as the thrill over Donald Trump’s victory within the presidential election continued.
- Bitcoin traded at one more all-time excessive, surpassing $82,000.
- MicroStrategy, the largest company holder of bitcoin, introduced it had simply paid $2.03 billion to buy one other 27,200 bitcoin.
The cryptocurrency euphoria that adopted Donald Trump’s victory within the U.S. presidential election continued Monday, with every part tied to the digital forex trade powering forward.
Bitcoin as soon as once more traded at an all-time excessive, surpassing $82,000. Dogecoin, a favourite of Trump adviser and Tesla (TSLA) CEO Elon Musk, surged 12%.
Shares of corporations within the sector, together with Robinhood Markets (HOOD), Coinbase International (COIN), Riot Platforms (RIOT), and Marathon Digital mother or father MARA Holdings (MARA), soared 11% or higher.
Crypto exchange-traded funds (ETFs), similar to iShares Bitcoin Belief (IBIT) and Grayscale Bitcoin Belief (GBTC), additionally jumped.
Trump Has Mentioned He Desires US To Be ‘Crypto Capital of the Planet’
The keenness has been pushed by Trump’s earlier feedback about his assist of cryptocurrencies, at one level saying he desires the U.S. to be “the crypto capital of the planet.”
As well as, MicroStrategy (MSTR), the most important company holder of bitcoin, introduced that it had bought an extra 27,200 bitcoin for $2.03 billion. MicroStrategy shares not too long ago have been up 16%.
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Crypto-Related Investments Surge on Trump Win, MicroStrategy Buy www.investopedia.com 2024-11-11 16:40:26
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