Crypto Stocks Surge Amid Increased Odds of Trump Presidential Win

Daniel

Crypto Stocks Soar as Trump’s Chances of Winning the Presidential Election Increase

On July 15, crypto stocks saw a significant rally along with Bitcoin (BTC). This rise was most notable among mining stocks, with Marathon Digital (MARA) up 17%, Riot Platforms (RIOT) up 16%, and CleanSpark (CLSK) up 16.2%. Additionally, Coinbase (COIN) stocks rose 11.4%, while MicroStrategy (MSTR), led by Bitcoin maximalist Michael Saylor, rose 16.7%.

This surge comes after an assassination attempt on Trump over the weekend, which unexpectedly boosted his chances of winning the 2024 election on various betting platforms. Trump’s potential re-election is seen as a bullish signal by many speculators and investors in the crypto space.

The growing odds of former President Donald Trump’s potential victory in the upcoming US presidential election have invigorated the pro-crypto community. Despite the assassination attempt, Trump announced that he will attend and speak at a Bitcoin conference in Nashville, Tennessee on July 27.

During Bitcoin’s recent price decline, institutions have benefited from the declines created by the German government’s significant BTC sell-off and the uncertainty surrounding the Mt. Gox repayment plan. On July 15, BlackRock CEO Larry Fink appeared on CNBC endorsing Bitcoin. He referred to the cryptocurrency as “digital gold” and a “legitimate” financial instrument.

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