Bitcoin Hits New All-Time High

Investing.com – Bitcoin hit a new all-time high above $82,000, with cryptocurrency-exposed stocks skyrocketing, indicating investors are betting on even greater gains. The rally follows the U.S. elections, where a wave of pro-crypto candidates took office, fueling market optimism.

Excitement surrounding the Bitcoin rally triggered gains even before the official market opening, reflecting strong buying interest among crypto investors.

Notable Gains

Leading the way was MicroStrategy Incorporated (NASDAQ:MSTR), the publicly traded company with the largest Bitcoin reserve, whose shares jumped 11% to over $300. Medical device company Semler Scientific (NASDAQ:SMLR), which invested $71 million in Bitcoin, surged 25% to a fresh yearly peak. America’s largest crypto exchange, Coinbase (NASDAQ:COIN), also saw a nearly 17% boost as the price action unfolded.

Mining companies with Bitcoin reserves also participated in the rally. MARA Holdings, holding 26,842 BTC, led the sector with a 20% increase.

Shares of other cryptocurrency-exposed stocks enjoyed double-digit gains, with Bitcoin lifting the broader sector. Riot Platforms (NASDAQ:RIOT) closed at $12.81, up 3.5%, while Ebang International Holdings (NASDAQ:EBON) rose 3.1%, ending at $6.96. Hut 8 Corp (NASDAQ:HUT) gained 2.6% to $19.59, and Cipher Mining (NASDAQ:CIFR) traded higher by 3.3% to $7.16. HIVE Blockchain Technologies Ltd (NASDAQ:HIVE) was up 2.9% to $4.65, Stronghold Digital Mining Inc (NASDAQ:SDIG) rose 3.5% to $5.38, Bakkt Holdings Inc (NYSE:BKKT) added 2.7% to $9.82, and Bitfarms Ltd (NASDAQ:BITF) secured a 3.1% gain, closing at $2.24.

Market Highlights

Bitcoin's latest rally coincided with Donald Trump’s U.S. presidential election victory, igniting several days of upbeat sentiment in the crypto world. Bitcoin’s market cap surged to $1.16 trillion, securing its position as the ninth-largest financial asset. The cryptocurrency market overall reached a yearly high, climbing past $2.7 trillion.

The President-elect promised to make the United States the "crypto capital of the planet." His campaign goals include creating a national crypto reserve with over $16 billion in Bitcoin acquired from asset seizures, and plans to cut interest rates—moves often associated with rising crypto prices as they lower borrowing costs.

Altcoin Rally

Altcoins participated in the rally, with Dogecoin and Shiba Inu leading among major tokens. Dogecoin jumped 88% over the past month, boosted by endorsements from Elon Musk, flipping both XRP and stablecoin USDC, and rising to the sixth-largest token position. While other major tokens saw moderate gains, some investors opted to take profits after Friday’s rally.