18th January 2025 – (New York) Crypto-related stocks experienced a significant surge on Friday, buoyed by optimism surrounding the impending return of Donald Trump, who has embraced the title of “crypto president.” Notable gains were observed in stocks such as MicroStrategy, which rose by 8.07% to $398.50, Coinbase, up 4.92% to $295.48, Marathon Digital Holdings, climbing 8.85% to $20.03, and Riot Platforms, which increased by 0.64% to $13.42.
Bitcoin also enjoyed a strong session, rising by 4.6% to $104,651.16, marking its best performance of the month and the year thus far. As of 1:45 p.m. ET, call volumes on the iShares Bitcoin Trust reached over 412,000, setting a record for the product.
The enthusiasm in the market stems from reports that Trump plans to sign an executive order prioritising cryptocurrency on a national level. This anticipated move has invigorated investor sentiment, leading to a notable uptick in trading activity across the crypto sector. As the landscape shifts with the incoming administration, stakeholders are keenly watching for how these developments will shape the future of digital assets.
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