Capital markets continue to be excited after Trump's victory last week, with Republicans picking up a majority in the Senate and a growing likelihood of controlling the House of Representatives. Digital currencies have been pulling up ferociously since the weekend period and continued to accelerate on Monday. Among other things, the price of bitcoin hit an all-time high on the same day, surpassing the $89,000 mark for the first time.

The three major U.S. stock indices closed collectively higher on Monday, with Tesla shares rising more than 9% and total market capitalization rising to $1.12 trillion, continuing the optimistic momentum driven by Trump's victory. Cryptocurrency concept stocks also performed well, with Kanaan Technology up 41%, MicroStrategy up 25% and Coinbase up 19%.

Bitcoin soars, hits $100,000 mark

The price of bitcoin has soared more than 30 percent since last week's election, hitting new all-time highs almost every day. On Monday, U.S. trading time, Bitcoin's intraday price spiked as high as $89,800 per coin, the first time in its history that it has broken the $89,000 mark. Meanwhile, ethereum and dogcoin followed suit, hitting new highs with intraday highs of $3,371.76/coin and $0.34799/coin, respectively, with ethereum's seven-day cumulative gain of about 40%, higher than bitcoin's 31%, and Musk-backed dogcoin doubling in a week.

In addition, the corporate world's interest in bitcoin also continues to rise, the cryptocurrency market giant “big bitcoin holders” MicroStrategy once again, announced that it spent about $ 2.03 billion to buy about 27,200 bitcoins, which is the largest since December 2020 buy orders. On Oct. 30, along with its third-quarter report, MicroStrategy announced a “21/21 plan” to raise $42 billion over the next three years through $21 billion in equity and $21 billion in bonds to buy more bitcoin.

As bitcoin soars, bitcoin options traders have set their sights on the $100,000 milestone, which investors are betting will be surpassed as early as the end of the year, according to cryptocurrency options exchange Deribit. Wall Street analyst Ned Davis Research predicts bitcoin is expected to soar above $120,000 next spring. And Standard Chartered predicted that with Trump's victory, bitcoin's year-end price may reach $125,000.

Wall Street generally sees Trump's promise to go all-in on cryptocurrencies as taking the price of Bitcoin to new heights. Trump has vowed to turn the U.S. into the cryptocurrency capital of the world. Bitcoin speculators are betting on a looser regulatory environment and anticipate that authorities may create a cryptocurrency reserve fund to help boost continued demand.

Investing involves risks and the value and yield of securities may go up or down. Past performance figures are not indicative of future performance. Trading in virtual assets and virtual asset related products involves a high degree of risk and is only suitable for clients with a high risk tolerance and the financial ability to absorb losses should the transaction become unprofitable. Transactions involving virtual assets or virtual asset related products may involve significant risk of loss. You should therefore carefully consider whether such transactions are suitable for you in light of your investment objectives, financial situation, risk tolerance and investment experience. You should be able to bear the entire loss of the amount invested as a result of, or in connection with, trading in any Virtual Assets or Virtual Assets-related products, as well as any additional loss beyond the initial amount of the trade or investment that may become due and owing. In considering whether to trade or invest, you should remind yourself of and be aware of the general risks and, in particular, any general and specific risk factors that may apply to trading in any Virtual Assets or Virtual Asset Related Products.