:max_bytes(150000):strip_icc()/GettyImages-2183657650-ed68ca2dd29c4480a1a1eb92f847b499.jpg?w=1500&resize=1500,1000&ssl=1 "Bitcoin Stocks Pop as Crypto Rallies Ahead of Trump Inauguration | Global News Avenue")
Bitcoin Stocks Pop as Crypto Rallies Ahead of Trump Inauguration
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Main points
- Bitcoin prices climbed above $104,000, pushing stocks related to the popular cryptocurrency higher.
- Cryptocurrency exchanges, Bitcoin miners and companies that hold cryptocurrencies as assets are among the beneficiaries.
- The price of Bitcoin has increased by nearly 50% since Donald Trump won the presidential election.
BitcoinRelated stocks rose on Friday after the cryptocurrency climbed above $104,000.
MicroStrategy (Magnetic transmission technology) is the largest corporate holder of Bitcoin, with its shares up more than 7% as of early Friday afternoon. Cryptocurrency exchange Coinbase (coin) shares rose about 5%. Bitcoin Miner Riot Platform (riot) rose 6%, Mara Holdings (Mara) rose about 13%.
Bitcoin has been rising recently, Soared nearly 50% Since the election of Donald Trump, this has been driven in part by optimism that the incoming administration will be more supportive of cryptocurrencies. The cryptocurrency hit an all-time high of over $108,000 last month.
december, trump Paul Atkins lead Securities and Exchange Commission. Atkins is a former SEC commissioner under President George W. Bush. Recently dedicated to digital assets and will replace Gary Genslerwho is considered a cryptocurrency critic by many.
Trump may also have the opportunity to replace several SEC commissioners whose terms are set to expire during his administration.
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