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Crypto-related investments rise after Trump’s victory, MicroStrategy Buy
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Crypto-related investments rise after Trump’s victory, MicroStrategy Buy

Key Takeaways

  • Investments in cryptocurrencies increased as excitement over Donald Trump’s victory in the presidential election continued.
  • Bitcoin hit another all-time high, passing $82,000.
  • MicroStrategy, the largest corporate holder of bitcoin, announced that it had just paid $2.03 billion to buy an additional 27,200 bitcoin.

The cryptocurrency euphoria that followed Donald Trump’s victory in the US presidential election continued on Monday, with everything related to the digital currency industry moving forward.

Bitcoin traded at another all-time high, surpassing $82,000. Dogecoin, a favorite of Trump advisor and Tesla (TSLA) CEO Elon Musk, rose 12%.

Shares of companies in the sector, including Robinhood Markets (HOOD), Coinbase Global (COIN), Riot Platforms (RIOT) and Marathon Digital parent MARA Holdings (MARA), rose 11% or better.

Crypto exchange traded funds (ETFs), such as iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (GBTC), also rose.

Trump has said he wants the US to become the “Crypto Capital of the Planet.”

The enthusiasm has grown on Trump’s previous comments about his support for cryptocurrencies, at one point saying he wants the US to become “the crypto capital of the planet.”

Additionally, MicroStrategy (MSTR), the largest corporate holder of bitcoin, announced it had purchased an additional 27,200 bitcoin for $2.03 billion. Shares of MicroStrategy recently rose 16%.

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