A fiery speech from firebrand presidential candidate Donald Trump at the Bitcoin 2024 conference in Kentucky over the week led to a strong rally in bitcoin’s spot price this Monday.
But his rousing pro-bitcoin speech, in which Trump rallied against the Democrats’ “anti-crypto crusade” while promising to create a government-owned bitcoin stockpile upon election, also lifted Nasdaq-listed cryptocurrency change Coinbase Global Inc (NASDAQ:COIN)’s valuation.
Coinbase shares spiked 3.3% to $251.50 in pre-market trades, though has since climbed back to $245.
Bitcoin miners including Riot Platforms Inc (NASDAQ:RIOT), CleanSpark, Hive Digital Technologies Ltd and Bit Digital Inc (NASDAQ:BTBT) were also up in the pre market though they saw a quick correction as trading got underway.
Bitcoin was last seen trading at $68,800, 0.8% higher against the US dollar.