From Nasdaq

January 17, 2025 4:17:24 pm:

Cryptocurrency stocks and funds, including Bitcoin, saw significant gains on Friday, with Bitcoin rising 5.3%. Canaan (NASDAQ:CAN) gained 18.9%, MARA Holdings (NASDAQ:MARA) rose 14.6%, Coinbase Global (NASDAQ:COIN) increased by 6.6%, and iShares Bitcoin Trust (NASDAQ:IBIT) saw a 5.7% gain. Market cap and 1-year price change data are also provided.

The surge in Bitcoin prices is attributed to the political climate, with the forthcoming Trump administration showing support for cryptocurrencies. Expectations of executive orders concerning crypto regulations have fueled optimism in the industry, leading to increased interest in Bitcoin and related investments. The potential for government-sponsored Bitcoin mining and a strategic Bitcoin reserve are driving price gains.

While the promised cryptocurrency orders from the Trump administration may face challenges, investors are advised to consider the risks involved in the crypto industry. Companies like Coinbase, MARA, and Canaan are subject to market fluctuations and regulatory changes, making thorough financial analysis crucial before investing. The recent gains in cryptocurrency stocks may be speculative, with potential for continued growth pending further policy developments.

Investors considering Bitcoin should weigh the risks and rewards, as highlighted by the Motley Fool Stock Advisor team. While Bitcoin has seen significant gains, alternative stock picks could offer substantial returns in the future. The Stock Advisor service provides guidance on building a successful portfolio, with a track record of outperforming the S&P 500 since 2002.

Anders Bylund, the author, holds positions in Bitcoin and Coinbase Global, with options on MARA Holdings. The Motley Fool also has positions in and recommends Bitcoin and Coinbase Global.

Read more at Nasdaq: Why Bitcoin and Related Stocks Soared on Friday