Donald Trump’s Nov. 5 win in the United States presidential election sets the stage for more institutional cryptocurrency adoption, according to a Benchmark research note.
Galaxy Digital’s stock is set for bigger gains after Donald Trump’s Nov. 5 win in the United States presidential election sets the stage for more institutional cryptocurrency adoption, according to a Nov. 8 analyst report shared with Cointelegraph.
Galaxy shares rose 25% on Nov. 5 after Republican candidate Trump’s election win sparked the crypto trading firm’s biggest trading day of the year.
The price jump was “in response to the election of U.S. President-Elect Trump, who had made a pro-crypto stance part of his campaign platform, with the potential for increased institutional adoption of crypto,” according to the report, written by Benchmark fintech analyst Mark Palmer.
