Bitcoin has hit an all-time high, surpassing $106,000 for the first time. The cryptocurrency’s value is driven by hopes of a more crypto-friendly environment under President-elect Donald Trump’s regime in 2025 and anticipation of another interest rate cut this week.
Investors are taking advantage of these positive sentiment by investing in Bitcoin-centric stocks such as NVIDIA Corporation, Visa Inc., Robinhood Markets, Inc., Shopify Inc., Block, Inc. and others. These stocks have strong growth potential for 2025 and carry a Zacks Rank #1 (Strong Buy) or higher.
The rally gained momentum after Micro Strategy’s inclusion in the Nasdaq 100 index. The company has shifted focus towards buying Bitcoin. The cryptocurrency surged in 2023 but faced setbacks, including the Bitcoin halving event. However, recent rate cuts by the Federal Reserve and Trump’s pro-crypto policies have fueled the rally.
The US government is expected to go for another interest rate cut this week, further fueling the rally. With these factors in place, investors are optimistic about the future of cryptocurrencies.
Source: https://finance.yahoo.com/news/5-crypto-centric-stocks-buy-150600770.html