Trump Crypto Craze Sent Bitcoin Miners Surging, but Watch Out
The "Trump trade" may have electrified all corners of the cryptocurrency market, but some ways of speculating on digital assets remain better than others.Following Donald Trump's victory in the presidential election, bitcoin has risen above $90,000 to a record high, bolstered by his pledges to end a hostile regulatory regime and build up a national crypto reserve. The rally has also powered the stocks of companies that "mine" bitcoin, such as MARA Holdings and Riot Platforms.Like gold, bitcoin derives most of its worth from the self-fulfilling notion that it is a store of value. Today, even bitcoin bulls often admit that real-world applications for crypto will likely develop elsewhere.Also like the precious metal, new supply is created by miners -- in this case, companies that validate groups of bitcoin transactions, or "blocks." To prove their legitimacy, validators must solve a complex mathematical puzzle and they receive a "block reward" in exchange that currently amounts to 3.125 n