Bitcoin climbed above $70,000 as investors braced for MicroStrategy’s gains and counted down the days until the U.S. presidential election.

Bitcoin’s price was last up almost 3% at $71,673, according to Coin Metrics. Ether up almost 5%.

Shares that are tied to the price of the cryptocurrency rose along with it. Crypto exchange platform Coin base and bitcoin proxy MicroStrategy improved by 3% and 4% respectively.

The last time bitcoin reached $70,000 was in June. The company has tested that level several times this year after hitting a record high of $73,797.68 in March, but previous forays above $70,000 have been mere blips.

Optimism is growing in the run-up to the American presidential elections next week. Bitcoin is limited to a tight range between $55,000 and $70,000. Bitcoin has also benefited from broader risk sentiment in the market, with stocks hitting new highs this month even with rising interest rates, the return of demand for bitcoin ETFs and another interest rate policy decision from the Federal Reserve on November 7.

Republican candidate and former President Donald Trump has courted the crypto industry this year, presenting himself as the pro-crypto candidate. Democratic candidate and Vice President Kamala Harris has been more cautious about crypto, and the industry is divided over how her potential presidency could impact crypto companies. The outcome is widely seen as a major catalyst for Bitcoin’s price, but investors are watching and waiting as the election approaches. Last week, bitcoin rose towards $70,000, but ultimately remained below the threshold.

Elsewhere, investors are looking forward to earnings from Coinbase and MicroStrategy, both scheduled for Wednesday. On Monday, MicroStrategy, which trades as a high beta on the price of bitcoin, posted its highest close since March 15, 2000.

MicroStrategy is looking to extend its seven-week winning streak, the longest since rallying since an 11-week streak that ended in late October 2010.

The price of Bitcoin has risen by 6% in the past week. The digital asset is now on track to rise 12% by the end of October, which would make it the best month since May.