Crypto Stocks Gain After Trump Assassination Attempt Fuels Bitcoin Rally
By Victor Swezey
Crypto-related stocks climbed after a weekend bitcoin rally following an attempt on former President Donald Trump's life on Saturday.
Shares of Cipher Mining were up 26%, to $5.88, in Monday trading, while fellow crypto miner Hut 8 was up 17%, to $19.87. Another miner, Core Scientific, gained 9%, to $11.01, and Marathon Digital Holdings climbed 18%, to $24.60. Crypto wallet Coinbase was up 11%, to $241.98.
The price of bitcoin jumped above $62,000 early Monday for the first time since the beginning of the month, as analysts gave Trump increasing odds of winning the November presidential election after a gunman came a fraction of an inch from taking his life during a Pennsylvania rally.
Trump has promoted cryptocurrency on the campaign trail and is set to speak at the Bitcoin Conference in Nashville later this month.
Other Trump-connected stocks have also rallied Monday after the assassination attempt, with Trump Media & Technology up 35% and Tesla up 3.6% after Chief Executive Elon Musk endorsed Trump over the weekend.
Write to Victor Swezey at victor.swezey@wsj.com
(END) Dow Jones Newswires
July 15, 2024 15:38 ET (19:38 GMT)
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