Bank

Donald Trump

Bitcoin

Reserve

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s recent recovery has led to a rally in crypto stocks, with notable gains in publicly traded crypto-linked firms.</li> 
 <li>Despite this, Minneapolis Federal Reserve Bank President Neel Tushar Kashkari maintains that Bitcoin remains worthless.</li> 
</ul> 
<p> Bitcoin’s [BTC] decline below the critical $60,000 mark last week had cast a shadow on the “Uptober” prospects. </p> 
<p> However, the leading cryptocurrency has made a strong comeback, hitting a high of $66,500 on the 14th of October, its highest price since July.</p> 
<h2 id="crypto-stocks-rally">Crypto Stocks Rally</h2> 
<p>This price increase triggered a double-digit rally for publicly traded crypto-linked firms in the U.S. </p> 
<p> Bitcoin mining company, CleanSpark (CLSK), posted the highest gains of 12.72%, according to Google Finance. </p> 
<p> This was closely followed by <a href="https://coineagle.com/exchange/gdax/">Coinbase</a> (COIN), which appreciated by 11.32%. </p> 
<p> Other gainers included LM Funding America (LMFA) up by 10.94%, TeraWulf (WULF) rising 6.65%, and Marathon Digital Holdings (MARA) climbing 5.60%.</p> 
<p>At the time of writing, <a href="https://coineagle.com/price/bitcoin/">Bitcoin</a> was trading at&nbsp; $65,657, gaining 9.04% over the past month and more than 144% in the last year.</p> 
<h2 id="driving-factors-behind-bitcoin-s-surge">Driving Factors Behind Bitcoin’s Surge</h2> 
<p>The rally in crypto stocks comes as Bitcoin benefits from heightened investor interest. </p> 
<p> This is partly due to anticipation surrounding the upcoming U.S. presidential elections, with both the Republican and Democratic parties adopting a pro-crypto stance. </p> 
<p> This has increased the possibility of further upside for Bitcoin, regardless of whether Donald Trump or Vice President Kamala Harris wins the presidency.</p> 
<p>Despite the growing acceptance and support from the larger community, Bitcoin continues to face skepticism from traditional financial leaders and institutions.</p> 
<p> On the 14th of October, Minneapolis Federal Reserve Bank President Neel Tushar Kashkari stated that Bitcoin remains worthless after 12 years.</p> 
<p> Kashkari emphasized that despite the longevity of digital assets, crypto has not been able to establish itself as a viable currency.</p> 
<p>However, Bitcoin’s performance tells a different story—its $1.3 trillion market cap and 1.3 billion addresses, as per Glassnode, highlight its broad adoption, market confidence, and recognition as a valuable digital asset despite criticisms.</p>

Bitcoin’s Impact on Double-Digit Surge of Crypto Stocks Explained

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CoinEagle.com

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