The new Trump administration will offer a good backdrop for crypto-related stocks, according to Piper Sandler. Cryptocurrency-linked assets surged on Wednesday following Trump’s victory. The president-elect has indicated his support for the industry, and more favorable regulations under a new administration could continue to send digital currencies like bitcoin to new all-time heights . On Wednesday, bitcoin rallied above $76,000 for the first time in history. “Early in the election cycle, President-elect Trump came out in support of crypto and was viewed as the most crypto friendly candidate in the race,” wrote Piper Sandler analyst Patrick Moley in a note Thursday. “Since then we’ve seen a broader bi-partisan, pro-crypto shift in D.C….
Nov 15 2024
