Bitcoin Stocks Surge as Regulatory Support Promises Boost Sentiment

Oct 16, 2024

Bitcoin-related stocks saw significant gains, with Bit Digital (BTBT, Financial) soaring over 7%, Coinbase (COIN) climbing more than 5%, Riot Blockchain (RIOT) increasing over 3%, and MicroStrategy (MSTR) rising by 1.8%.

The upward trend in these stocks is primarily driven by the recent commitment from a U.S. presidential candidate and current Vice President to support a regulatory framework for digital currencies. This political backing has helped Bitcoin prices surpass $68,000, marking its highest point since late July.

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