Bitcoin-market-gID_7.jpg@png” />
In summary
- Bitcoin Mining companies in the US are having a good day: CleanSpark (CLSK) is up more than 21%, trading at $12.80; Riot Platforms (RIOT) is up more than 21% to $11.80; and Marathon (MARA) is up 19% and is now trading at $19.35 per share.
- Cryptocurrency stocks are on the rise due to Bitcoin setting a new price high and Donald Trump’s pro-crypto promises.
- Investors are betting that Trump will make good on his pro-crypto promises when he returns to office in 2025.
Bitcoin mining companies in the US are also having a good day: low-carbon energy-powered miner CleanSpark (CLSK) is up more than 21%, trading at $12.80; Riot Platforms (RIOT) is up more than 21% to $11.80; and Marathon (MARA) is up 19% and is now trading at $19.35 per share.
All major stock indices are up on Wednesday. However, cryptocurrency-related stocks are flying high not only because Bitcoin set a new price high on Tuesday night and again on Wednesday afternoon, but also because Trump positioned himself as a crypto candidate, and someone who would work to protect the industry in America.
Investors are apparently betting that he will deliver on those promises when he takes office again in 2025.
Investors who have poured money into cryptocurrency-related companies — some of which are considered proxies for Bitcoin and other mainstream assets — are having a field day, with many top stocks soaring following Donald Trump’s projected victory for a second term. in the White House.
The San Francisco-based exchange — which went public in 2022 — allows customers to buy and sell Bitcoin, Ethereum and other major coins and tokens, and is a favorite for investors seeking general exposure to the regulated world of cryptocurrencies. cryptocurrencies.
Coinbase was also a major player in the election cycle, committing tens of millions of dollars to Fairshake, a super PAC that supported many pro-crypto Senate and House candidates — and scored some major victories, including the defeat of Senator Sherrod Brown in Ohio. The exchange also launched support campaigns through its Stand With Crypto alliance.
Elsewhere, shares of “Bitcoin development company” MicroStrategy (NASDAQ: MSTR) rose more than 13% yesterday, trading at $258. The company sells data analysis software, but has primarily focused on securitizing Bitcoin: buying the cryptocurrency and allowing investors to gain exposure to it through the company’s shares listed on the Nasdaq. The firm is also developing a decentralized identity protocol on Bitcoin.
The company, based in Tyson, Virginia, first purchased Bitcoin in 2020 when founder and CEO Michael Saylor said the asset was the best way to preserve wealth and earn returns for shareholders.
With Bitcoin marking several all-time highs at the time of writing, MicroStrategy’s 252,500 BTC stash is currently worth more than $19 billion. The firm recently revealed plans to raise $42 billion over the next three years to continue buying Bitcoin.
Bitcoin mining companies in the US are also doing very well on Wednesday: low-carbon energy miner CleanSpark (CLSK) is up more than 21%, trading at $12.80; Riot Platforms (RIOT) is up more than 21% to $11.80; and Marathon (MARA) has jumped 19% and is now trading at $19.35 per share.
All major stock indexes rose on Wednesday. However, cryptocurrency-related stocks are flying high not only because Bitcoin set a new price high on Tuesday night and again on Wednesday afternoon, but also because Trump positioned himself as a pro-crypto candidate, and someone who would work to protect the industry in America.
Investors are apparently betting that he will deliver on those promises when he returns to office in 2025.
Edited by Andrew Hayward
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
Disclaimer: Please note that the information provided on this page is for News purposes only and should not be considered investment or trading advice. ©Crypto.keynoteusa.com strongly recommends that you conduct independent research and/or consult with a qualified professional before making any investment decisions.
