By George Glover
Bitcoin was climbing once again on Monday, most likely on investor bets that president-elect Donald Trump’s incoming administration will ease crypto regulations.
The large-cap token climbed 2.4% to $91,749 in early trading. It’s up about 20% since it became clear that Trump — a onetime skeptic who promised on the campaign trail that he’d make the U.S. the world’s crypto capital — would win the election that was held on Nov. 5.
Robert F. Kennedy Jr., Trump’s nominee for Secretary of Health and Human Services, underlined the incoming administration’s support for digital assets when he called Bitcoin “the currency of freedom” in a post on X Saturday.
Kennedy added that former Cantor Fitzgerald CEO Howard Lutnick, who The Wall Street Journal reported last week is a leading candidate to become Trump’s Treasury Secretary, would be a strong “advocate” for the token.
Other cryptocurrencies were also rising Monday. Ethereum was up 1.5% to $3,109, Solana climbed 5.1% to $245, and Dogecoin — a so-called meme token that’s been touted in the past by Trump ally Elon Musk — jumped 4.4% to just over cents.
Crypto-related stocks were gaining, too. Shares in the exchange Coinbase Global were up 0.9% ahead of the opening bell, while online-trading platform Robinhood Markets climbed 1.4% and Bitcoin holder MicroStrategy added 2.7%. Futures for the large-cap S&P 500 index were trading flat.
Write to George Glover at george.glover@dowjones.com
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