Bitcoin has reached an unprecedented level, climbing past $90,000 and marking a historic high. Since the U.S. election, the cryptocurrency has gained almost 30%. This surge is driven by investor optimism following recent pro-cryptocurrency policy shifts and regulatory relaxation under the Trump administration. Numerous congressional candidates supported by a crypto-focused political action committee have won their races, further fueling Bitcoin's momentum.
This rally has also propelled stocks and tokens linked to the cryptocurrency sector. Coinbase (COIN, Financial), currently embroiled in a legal dispute with the U.S. Securities and Exchange Commission (SEC), saw its stock price soar this week. During early trading hours, Coinbase shares rose by nearly 3%.
MicroStrategy (MSTR), a company that has transitioned into a major Bitcoin holding entity, also experienced a significant increase in its stock value, climbing close to 5%. Led by Bitcoin advocate Michael Saylor, MicroStrategy currently holds approximately 279,420 bitcoins, valued at around $25 billion.
