With Donald Trump back in the White House, cryptocurrencies are exploding.
On Wednesday morning, Bitcoin hit an all-time high, tacking on more than $4,400 of value. And it could easily rally even more with Trump Administration support.
Remember, Donald Trump and J.D. Vance are both bullish on cryptocurrency.
Trump wants to turn the U.S. into the “crypto capital of the planet,” as noted by MSNBC. Kamala Harris has also said she backs the industry and will “encourage innovative technologies like AI and digital assets,” as also noted by MSNBC. In short, either candidate could have a significant impact on Bitcoin.
If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (SYM: BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.
Or, keep an eye on Marathon Digital (SYM: MARA), a Bitcoin mining stock that typically runs with Bitcoin. Last trading at $17.80, we’d like to see MARA run well above $20 near term.
