Shares of MicroStrategy Incorporated (NASDAQ:MSTR), Marathon Digital Holdings, Inc. (NASDAQ:MARA) and Riot Platforms, Inc. (NASDAQ:RIOT) are rising alongside Bitcoin’s continued upward momentum.
Strength in Bitcoin (CRYPTO: BTC/USD) is possibly being driven by speculation surrounding President-elect Donald Trump‘s upcoming executive order aimed at declaring cryptocurrency a national priority. This order is expected to include measures that would re-assess federal policies on digital assets and possibly pause ongoing litigation. Additionally, there are talks of creating a national Bitcoin reserve, a move that aligns with Trump’s past campaign promises to attract cryptocurrency enthusiasts.
The anticipation of a more crypto-friendly government policy could bode well for companies like MicroStrategy, which holds substantial Bitcoin reserves and miners like Marathon and Riot, who benefit directly from Bitcoin’s value increase.
Price Action: Microstrategy shares were up 6.21% at $389.82, Marathon Digital shares were up 7.38% at $19.63 and Riot Platforms shares were up 5.15% at $13.99 at the time of writing, according to Benzinga pro.
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