Bitcoin reaches record high near $85,000 as crypto, Trump trades dominate stock market
Published On Nov 11, 2024, 11:14 AM
Bitcoin has reached a record high of nearly $85,000, boosting stocks associated with cryptocurrencies and benefiting from a post-election rally expected under President-elect Trump. Coinbase's stock surged over 17%, and Robinhood's increased by more than 8%, as both companies are heavily involved in crypto trading. Other names like MicroStrategy and Tesla also saw significant stock price increases due to their Bitcoin holdings and connections to Trump. The bullish sentiment is tied to Trump's expected pro-crypto policies, which may include an advisory council for cryptocurrencies and changes to the SEC leadership.