Crypto stocks continued to surge following Donald Trump’s US election victory last week, with Bitcoin hitting a new record high above $84,700 late morning on Monday.
Trump’s win is seen as a bullish sign for digital currencies, with hopes his administration will rapidly develop crypto regulation and potentially a strategic Bitcoin stockpile.
Bitcoin has gained almost 25% since election day, when it traded hands at about $68,000. The coin is up 88.5% in the year to date.
Platforms that support crypto trading rose, with Robinhood Markets Inc (NASDAQ:HOOD) adding 11.2% to reach a 52-week high of $33.90 and Coinbase Global Inc (NASDAQ:COIN) up 16.8% at $316.57.
Bitcoin miners also got a boost, with Hut 8 Mining Corp (TSX:HUT) adding almost 25%, HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) up 16% and Bit Digital Inc (NASDAQ:BTBT) saw its stock surge 24%.
Meanwhile, Bitcoin development firm MicroStrategy Incorporated (NASDAQ:MSTR) added almost 18% and digital asset and investment firm Fineqia International Inc (CSE:FNQ, OTC:FNQQF) saw its shares boosted by almost 11%.