Markets are reacting to the news of Donald Trump’s presidential election win, with some assets experiencing a significant boost. Bitcoin has soared past silver to become the eighth largest asset in the world, reaching an all-time high of $93,477.
Dogecoin has also seen a surge after Elon Musk announced his role in a non-governmental “Department of Government Efficiency” group, which is expected to consult on spending. The cryptocurrency’s price increased as a result.
On the other hand, stocks such as Intel and Arm have taken a hit due to chip shortages and supply chain issues. However, shares of Tesla are seeing a significant boost following Trump’s election win, with short-sellers feeling the pain and hedge funds losing at least $5.2 billion.
Additionally, Super Micro Computer’s stock has cratered after the company failed to file its quarterly report on time, raising concerns about potential delisting from major stock exchanges. The company is now seeking a new accounting firm to review its financial statements for fiscal 2024.
Source: https://qz.com/bitcoin-price-market-cap-dogecoin-trump-musk-stocks-1851700536