Reported 29 days ago
Bitcoin price spiked above $70,000 on Monday, driven by expectations surrounding the November elections and MicroStrategy's earnings report—the largest corporate holder of Bitcoin. Stocks linked to cryptocurrencies, such as MicroStrategy and Coinbase, experienced significant gains, with Coinbase rising over 5% and MicroStrategy nearly 9%. Market analysts are optimistic that Bitcoin may exceed its all-time high of $73,797 due to potential changes in crypto policy after the elections. This optimism was further fueled by former President Trump's recent endorsement of Bitcoin, as the crypto industry invests heavily in influencing election outcomes and regulatory frameworks.
Source: YAHOO