Bitcoin hits all-time high, crossing $100,000 mark, attributed to Trump's crypto-friendly policies.

From Nasdaq: 2024-12-05 08:26:00

Bitcoin hit an all-time high of $103,844.05 before closing at $103,544, crossing the $1,00,000 mark for the first time. The surge is attributed to President-elect Donald Trump’s crypto-friendly policies and the Fed’s low-interest rate regime. Five recommended crypto-centric stocks include NVDA, COIN, BLK, HUT, and HOOD.

Trump’s crypto-friendly policies include nominating Paul Atkins to head the SEC and creating a national crypto stockpile. He aims for the U.S. to be a dominant force in crypto mining. Trump’s support contrasts with Biden’s negative stance on Bitcoin. A rate cut by the Fed is expected in December, further boosting the crypto space.

NVIDIA, a leading GPU designer, benefits from the booming crypto market. Expected revenue and earnings growth rates exceed 100% for the current year. Coinbase Global provides key financial infrastructure for the crypto economy and has strong growth projections. BlackRock, Hut 8, and Robinhood Markets are also poised for significant growth.

Hut 8 operates data centers for digital asset mining, aiming to increase its total hash rate substantially. Revenue and earnings growth rates exceed 100% for the current year. Robinhood Markets operates a financial services platform in the U.S., offering investment options in stocks, ETFs, and cryptocurrencies. Both companies have strong growth potential.

Zacks Investment Research highlights five stocks set to double in 2024. These picks, including NVDA, COIN, BLK, HUT, and HOOD, have the potential for significant gains. Past recommendations have seen substantial increases, making these stocks worth considering for investors looking for high growth opportunities in the crypto space.



Read more at Nasdaq: Buy These 5 Crypto-Centric Stocks as Bitcoin Crosses a Key Landmark