Bitcoin topped $82,000 early Monday as cryptocurrencies continued to surge following the Nov. 5 elections. President-elect Donald Trump was pro-crypto during the campaign and is expected to offer a friendlier regulatory regime for digital currencies. That should be a positive tailwind for bitcoin ETFs and related stocks such as Coinbase Global and Robinhood Markets.
At 4 p.m. ET Friday, the digital currency was at $76,783.86, up 14.1% over four sessions starting with Election Day.
At a crypto conference in July, Trump pledged to make the U.S. the "crypto capital of the planet and the bitcoin (BTC-USD) superpower of the world."
Trump has said he will hire regulators who support cryptocurrencies and hold bitcoin in a strategic national stockpile.
Some cryptocurrency analysts have pegged $100,000 as the next big bitcoin price target, perhaps as by year-end.
Cryptocurrency Prices And News
Bitcoin Stocks, ETFs
The weekend gains are a positive sign for bitcoin ETFs and crypto-related stocks.
The iShares Bitcoin Trust ETF leapt 11% last week to 43.69, hitting a record highs. IBIT ran up 7% early Monday.
Coinbase stock erupted for a 48% weekly gain to 270.74, just below a multiyear high. COIN stock leapt 16% in premarket trade.
Robinhood, a crypto-friendly trading app, leap 27.4% to 30.54, the highest in nearly three years. HOOD stock jumped nearly 8% before the open.
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