Cryptocurrency markets reflected similarly bullish sentiment.
Bitcoin briefly reached a record $75,000, a milestone last seen in March, and by 9:30 a.m. Eastern Time, had gained 7%, trading at $74,305.
Crypto-related stocks surged as well, with MicroStrategy up 13%, Coinbase Global rising 16%, and MARA Holdings increasing by 9.7%.
Altcoins followed suit: Ethereum climbed 9.1% to $2,633, Solana spiked 13% to $187, and Dogecoin—a popular meme token promoted by Trump ally Elon Musk—surged 18% to just under 20 cents.
Both candidates have shown support for crypto this election cycle.
Trump’s new policy had a more pronounced effect on the market. Earlier this year, he pledged to establish a Bitcoin strategic reserve and replace SEC Chair Gary Gensler, known for his critical stance on crypto.
Recently Vice President Harris described blockchain as an “industry of the future” and pledged to support digital currencies.
Tesla’s Gains on Anticipated Policy Benefits
Trump’s pro-business policies seem to have revived investor enthusiasm for Tesla.
