Stock Track | Crypto Miner Bit Digital Soars on Trump's Win, Bitcoin Record High-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Stock Track | Crypto Miner Bit Digital Soars on Trump's Win, Bitcoin Record High

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Shares of Bit Digital Inc., a leading cryptocurrency mining company, skyrocketed in pre-market trading on November 11, riding the wave of a broader crypto market rally fueled by optimism over President-elect Donald Trump's anticipated crypto-friendly policies.

Bit Digital's stock surged nearly 24% in early trading, mirroring the surge in major cryptocurrencies led by Bitcoin, which smashed through the $82,000 mark for the first time. The digital asset's meteoric rise is being attributed to expectations of a more favorable regulatory environment for the crypto industry under the incoming Trump administration.

Trump had vowed on the campaign trail to put the US at the center of the digital asset industry, promising measures such as creating a strategic Bitcoin stockpile and appointing regulators who are crypto-enthusiasts. This stance contrasts sharply with the tougher approach taken by the outgoing Biden administration, which had cracked down on the sector amid concerns over fraud and misconduct.

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