Shares of US Crypto Companies Soar on Trump’s Election Victory
In recent days, shares of US-based cryptocurrency companies have risen significantly as Bitcoin (BTC) rose above $75,000 and Donald Trump took important steps towards winning the presidential election. This created great excitement in the cryptocurrency market and revived the interest of investors.
The Rise of Bitcoin and Its Impact on the Stock Market
Donald Trump declared victory by receiving the required 270 electoral college votes in the presidential elections. This development had a positive impact on Bitcoin’s market value. Bitcoin’s rise above $75,000 presented a huge opportunity for both individual and institutional investors. In this context, significant increases were observed in the shares of important actors such as cryptocurrency exchanges and mining companies.
- MicroStrategy (MSTR): Shares of MicroStrategy, the largest institutional Bitcoin holder, rose 12% to approach $255. This means the company is up 280% this year.
- Coinbase: Shares of crypto exchange Coinbase also increased by 12%, which strengthened the market perception of the exchange.
- Riot Platforms (RIOT): Crypto miner Riot Platforms also made its investors happy by showing a similar rise.
- Marathon Digital Holdings (MARA): Shares of this company experienced an increase of 11%.
- Tokyo-based Metaplanet (3350): This company, which adopted MicroStrategy’s Bitcoin purchasing policy, increased by 24%.
These increases show that investors’ confidence in Bitcoin and other crypto assets is increasing. In particular, the return on investments in Bitcoin has exceeded 1,100% since the beginning of the year. This indicates that a big change is coming in the crypto world.
Statements of Bitwise CEO
Bitwise CEO Simon Gerovich stated that the company saw record trading volume of 11.63 billion yen ($76 million). This reveals the size and potential of the cryptocurrency market. Additionally, the 30% increase in the share price of another Bitcoin investor named Semler Scientific (SMLR) shows that investors’ interest in this area has increased.
Another prominent name is Elon Musk. The Tesla CEO publicly expressed his support for Trump and support for cryptocurrencies during the election campaign. This led to a 15% increase in Tesla’s share price and created a positive atmosphere in the market in general.
Positive Developments for the Crypto Industry
André Dragosch, head of research at Bitwise Europe, stated that election-related uncertainties create a positive regulatory possibility for the crypto industry. Under the Trump administration, more pro-crypto regulations are expected to be implemented. This may allow investors to encounter more diverse opportunities.
Future Expectations
The ability of crypto asset service providers to operate more freely will contribute to the growth of the sector. Relaxing regulations will increase investors’ confidence in crypto assets, which will lead to market growth. In particular, spot crypto ETFs awaiting SEC approval may present new opportunities for investors.
“Bitcoin has generally performed well after past US elections,” Dragosch said. Trump’s win will accelerate the appreciation of Bitcoin and other crypto assets. “As a result, the political environment in the US is taking a pro-crypto stance, which is certain to increase mainstream adoption of crypto assets.” he said.
In summary, Donald Trump’s election victory and the rise of Bitcoin herald the beginning of a new era in the US cryptocurrency market. Investors should review their strategies taking this situation into consideration.
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