Bitcoin Tops $88K, Catapulting MicroStrategy to 24-Year Record Amid Supercharged Crypto Rally
Bitcoin (BTC) reached new all-time highs, surpassing $88,000 and peaking at $88,448, with a market capitalization of approximately $1.37 trillion, exceeding that of silver. The CoinDesk 20 Index (CD20) rose by 7.9%, while Ethereum (ETH) increased by 6.4% to over $3,300, and Solana (SOL) gained 6.7% to exceed $220. Aptos (APT), Near (NEAR), and Render (RNDR) tokens surged 18%-25%. Crypto stocks also experienced significant gains, with Coinbase (COIN) shares rising nearly 20% to over $320, and Bitcoin miners like MARA Holdings and CleanSpark gaining 25%-30%. MicroStrategy (MSTR) shares climbed 25% to a new high of $340 after acquiring 27,200 BTC, totaling 279,420 BTC valued at about $24.5 billion. The crypto market rallied following the U.S. elections, driven by expectations of a more favorable regulatory environment under a Republican-controlled legislature. Bitcoin gained 27% in a week, with many altcoins increasing even more significantly.
