MARA Holdings, a leading cryptocurrency mining company, saw its stock price surge 5.2% on Wednesday in a 24-hour rally. This significant increase coincided with a broader surge in the cryptocurrency market, particularly Bitcoin, which neared the $100,000 mark for the first time.
The rally in MARA Holdings and the broader crypto market was fueled by growing optimism surrounding the potential for a favorable regulatory environment for cryptocurrencies under the incoming Trump administration. President-elect Donald Trump has expressed support for building a national reserve of Bitcoin and has a crypto business of his own, signaling a bullish stance towards the industry.
Additionally, Trump's nomination of Paul Atkins, a cryptocurrency advocate and former SEC commissioner, to lead the Securities and Exchange Commission (SEC) bolstered expectations of a more lenient regulatory approach. Atkins has previously criticized regulatory actions taken by the SEC and holds a position within a crypto lobbying group, indicating his pro-crypto stance.
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