Cryptocurrencies Are Early Winners of Trump’s Second Term

Soaring Assets

AP News reports that bitcoin jumped nearly 8% in early trading, which meant it climbed above $75,000, while its close rival, ether, saw an 7% boost. Coinbase enjoyed a 17% leap and its Chief Legal Officer, Paul Grewal, took the opportunity to petition the SEC to rethink how it regulates cryptocurrencies.

Companies offering crypto trading also got in on the action. “Online brokerage Robinhood Markets, which offers crypto trading, soared 12% and MicroStrategy, which says it is the ‘largest corporate holder of bitcoin,’ jumped 10%,” says the news service.