Bitcoin's Historic Milestone

In a groundbreaking move, Bitcoin, the world's leading cryptocurrency, has surpassed the $100,000 threshold, setting a new record and sparking a surge in crypto-related stocks.

Impact on Crypto-related Stocks

The news has significantly impacted the stock market, with shares of crypto-related companies experiencing notable growth. Coinbase Global Inc., a prominent cryptocurrency exchange platform, saw its stock rise by 3.25% to trade at $341.71 at 6:04 am ET. Similarly, Robinhood Markets Inc. climbed 4.22% to reach $41.69 per share.

MicroStrategy Inc., a company known for its substantial Bitcoin holdings, witnessed a 5.80% increase in its stock price, reaching $429.40. MARA Holdings Inc., a digital asset miner, also jumped 5.97% to trade at $27.5 per share.

Trump's Role in the Crypto Boom

The surge in Bitcoin's value and the subsequent rally in crypto stocks can be partially attributed to United States President-elect Donald Trump's decision to appoint crypto advocate Paul Atkins as the head of the Securities and Exchange Commission (SEC). This move is seen as a significant boost for the cryptocurrency industry, further propelling Bitcoin past its long-awaited milestone.