Trades that had often moved with Donald Trump’s bets over the past month soared higher as Trump secured a victory over Kamala Harris in the presidential election.

Shares of Trump Media & Technology Group (DJT) rose more than 30% on Wednesday before erasing those gains. The stock, in which Trump owns several billion dollars worth of shares, had risen sharply on Tuesday evening, as a Trump victory looked increasingly likely.

Other trades that appeared to be moving in line with Trump’s odds of winning also shot up. Bitcoin (BTC-USD) rose to a new all-time high overnight as Trump emerged as the next president-elect. Investors had seen Trump as the more pro-crypto candidate heading into the election.

The world’s largest cryptocurrency rose above $74,000 per coin for the first time late Tuesday evening. Meltem Demirors, general partner at Crucible Capital, told Yahoo Finance that the asset largely followed Trump’s betting odds on a 1-to-1 basis during the election cycle, a sign that investors were dealing with a lot of “indecision” in the crypto market.

In July, Trump attended a bitcoin conference in Nashville for voters.

His promises to the industry include appointing a presidential cryptocurrency advisory council, firing SEC Chairman Gary Gensler and creating a “strategic national bitcoin supply.”

The rise in bitcoin and ethereum (ETH-USD) prices, which rose more than 7% on Wednesday, was accompanied by a rise in crypto-related stocks.

MicroStrategy (MSTR), which has a significant amount of bitcoin on its balance sheet, rose more than 11% in premarket trading. Crypto exchange Coinbase (COIN) also rose more than 12%, while Robinhood (HOOD), which offers cryptocurrency trading on its platform, rose almost 10%.

Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer.

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