Bitcoin Breaks the $100,000 Barrier

In a significant development for the cryptocurrency market, Bitcoin, the world's largest cryptocurrency, surpassed the $100,000 mark during Thursday's premarket session. This milestone has led to a surge in shares of crypto-related companies in New York.

The rise in Bitcoin's value can be attributed to several factors, including the decision by United States President-elect Donald Trump to nominate crypto advocate Paul Atkins as the head of the Securities and Exchange Commission (SEC). This move is expected to further boost the cryptocurrency market.

Crypto Stocks React Positively

The positive sentiment in the cryptocurrency market has translated into gains for several crypto-related stocks. Coinbase Global Inc., a leading cryptocurrency exchange platform, saw its stock price increase 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 significant Bitcoin holdings, experienced a 5.80% rise in its stock price, reaching $429.40. Additionally, MARA Holdings Inc., a digital asset miner, saw its stock jump by 5.97% to trade at $27.5 per share.