Republican

bullish

Solana

Block

Crypto stocks surged sharply on Nov. 6 as Donald Trump’s victory for a second term as U.S. president bolstered the market’s bullish outlook.
While cryptocurrencies have ripped in the lead up to the election as betting odds showed Trump was headed for victory, things got juicy on Election Day. Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) shot to above $75,000 before taking a breather.
The Trump trade, which relates to conviction that markets would rip if the Republican candidate won, engulfed not just the top coin, but also altcoins. Ethereum (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ethereum/">ETH</a>) has jumped above $2,700, Solana (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/solana/">SOL</a>) is eyeing $190 and Dogecoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/dogecoin/">DOGE</a>) broke $0.20.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/the-intersection-of-trumps-promises-and-bitcoins-250k/"> The intersection of Trump’s promises and Bitcoin’s $250,000 forecast </a>
Meanwhile, stocks of crypto related companies, including Coinbase, MicroStrategy and Riot soared pre-market, continuing higher during the U.S. trading session. This came as Vice President Kamala Harris <a href="https://x.com/CNBC/status/1854234714208399776" target="_blank" rel="noopener noreferrer nofollow">called Trump</a> to congratulate him. Harris was expected to give her concession speech later in the day.
At the time of writing, Coinbase shares had increased by 30% to $253.58, marking a 50% gain over the past month and a 193% rise over the past year.
MicroStrategy, the largest corporate holder of Bitcoin, saw its stock rise nearly 13% on the day and 40% over the last 30 days. MSTR has outperformed most stocks, delivering a return of over 460% in the past year.
Other stocks making notable gains included Bitcoin mining companies Marathon Digital, Riot Platforms, CleanSpark, and Hut 8. Marathon (MARA) was up 19%, Riot (RIOT) +21%, CleanSpark (CLSK) +20%, and Hut 8 (HUT) +9%, following positive quarterly results.
Robinhood, which offers crypto trading, also recorded significant gains, while Block Inc. was up on the day. Robinhood (HOOD) has gained 20% so far, and Block (SQ) has risen more than 7%.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-miner-hut-8-to-increase-hashrate-with-fleet-upgrade/"> Bitcoin miner Hut 8 to increase hashrate with fleet upgrade </a>

Bitcoin, crypto stocks surge as Harris congratulates Trump

crypto.news

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