Crypto stocks jump as bitcoin leaps to record on 'Trump trade' boost
06/11/2024 09:17
** Shares of cryptocurrency and blockchain-related companies
rise premarket as Republican Donald Trump claims victory in the
2024 presidential contest
** Trump has positioned himself as crypto-friendly and in
recent months trades in the sector have been closely linked with
odds of him returning to the White House
** Bitcoin BTC= , the world's biggest cryptocurrency, last
up 6.7% after hitting a record high of $75,389 in Asia trade
** "Bitcoin has just hit a new record high, hitting $75,000
as the market continues to price in a Donald Trump victory in
the US elections," said Josh Gilbert, market analyst at eToro
** Crypto exchange Coinbase Global COIN.O rises 10%, while
blockchain farm operator Bitfarms Ltd BITF.O up 11.6%
premarket
** "The prospect of a Trump victory is seen by some as a
catalyst for this surge, driven by expectations of a
business-friendly agenda and potential regulatory shifts," says
Mena Theodorou, co-founder at crypto exchange Coinstash
** Crypto miners: Riot Platforms Inc RIOT.O Marathon
Digital MARA.O , U.S.-listed shares of Hut 8 HUT.O , and Bit
Digital BTBT.O up 10% - 12% before the bell
** Software firm and BTC buyer MicroStrategy MSTR.O gain
11% premarket
** BTC has surged ~76% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))