Bitcoin surged to nearly $90,000 after Donald Trump's election win, reaching $89,637, marking a 25% gain since November 5
The rally is driven by expectations that Trump's administration will be crypto-friendly, boosting demand for cryptocurrencies and crypto stocks.
Alongside Bitcoin, Tesla stocks rose nearly 40%, as investors anticipate favorable policies under Trump's leadership
The election result sparked a speculative surge in crypto mining and trading stocks, with companies like Riot Platforms and MARA Holdings seeing significant increases
MicroStrategy, a prominent corporate investor, spent $2 billion buying Bitcoin between Oct 31 and Nov 10, leading to a 26% rise in its shares.
Other cryptocurrencies like Ether and Dogecoin also surged as the crypto market experienced a broad rally following Trump's election.
Trump has pledged to implement crypto-friendly policies, including creating a U.S. Bitcoin reserve and enhancing domestic crypto mining
Bitcoin has more than doubled in value in 2024, outpacing traditional investments like stocks and gold, amid increasing enthusiasm for Trump’s potential crypto policies.