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hiTrump's victory has resulted in a surge of over 10% in the stock prices of cryptocurrency firms
The market capitalization of companies linked to the digital asset sector surged by over 10% in pre-market trading following Bitcoin's rise to a new all-time high above $75,000. This upswing was fueled by Donald Trump's victory in the U.S. presidential elections.
As of this writing, shares of MicroStrategy have risen by 13.1%, while Coinbase has experienced a 19.1% increase.
Mining companies are also bolstering their positions:
Marathon Digital Holdings — 11%;
Riot Platforms — 11.7%;
IREN — 13.6%.
Tesla stocks, under Elon Musk, are also outperforming the market, climbing by 14.4%.
It was previously reported that Trump’s beneficiaries among Polymarket traders have been identified.
Recall that ForkLog gathered insights from crypto industry participants regarding the prospects for the digital asset market following the U.S. presidential elections.
Donald Trump has become the 47th president of the United States. What implications does this hold for the cryptocurrency industry?
Important Notice: The material provided is for informational purposes only and does not constitute investment advice. The Rao Cash editorial team is not responsible for your financial decisions. Cryptocurrency assets involve high risks — conduct your own research (DYOR).
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