Cryptocurrency-related stocks recorded a notable increase on Wednesday after supportive remarks for crypto from U.S. President Donald Trump pushed the price of Bitcoin and the wider cryptocurrency market upward.
In parallel with the market rise, the stock of Bitcoin Strategy jumped by more than 10%. The cryptocurrency trading platform Coinbase also saw gains exceeding 14%, while the stock of mining company Hut 8 rose by 13.89%, and the stock of American Bitcoin Corp increased by 11.65%.
Dominic John, an analyst at Zeus Research, told Cointelegraph that the likelihood of a clearer regulatory framework emerging in the near future could be one of the factors driving this rise.
BTC
77,581.84
-0.53%
ETH
2,318.03
-0.50%