Hong Kong Stock Concept Tracking | Cryptocurrency Soars Collectively! Bitcoin Historically Surpasses $80,000, Related Concept Stocks Expected to Rise (Including Concept Stocks)

According to Zhitong Finance APP, on November 10, cryptocurrency collectively surged, accelerating its rise in the afternoon. Among them, Bitcoin continued to rise, with an intraday increase of over 4%, briefly breaking through the $80,000 mark, setting a new historical record. This is also the first time in history that Bitcoin has crossed the $80,000 threshold.

On November 6, Trump announced his victory in the 47th U.S. presidential election, and Bitcoin subsequently stabilized above $70,000. It is now very close to the $80,000 mark, achieving a leap in price in just five days, with Bitcoin's price rising 16% over the past week. Its market capitalization has risen to $1.57 trillion.

The second-largest cryptocurrency, Ethereum, has risen 30% in the past week, priced at $3,201. Additionally, Binance Coin, Tether, SOL, and other cryptocurrencies have also risen, with the increase continuing to expand.

Reports indicate that cryptocurrencies are considered part of the "Trump trade." During the campaign, Trump expressed his favor for Bitcoin and cryptocurrencies multiple times, believing that their innovative spirit and autonomy align with America's core values. He plans to support cryptocurrencies through policy, positioning the U.S. as a leader in global Bitcoin and blockchain technology.

Trump's victory has further strengthened Bitcoin investors' confidence in going long, and after the announcement of Trump's victory, Bitcoin's price began to rise rapidly. In the last five calendar days, Bitcoin has cumulatively risen over 10%; in the past two months, it has increased by about 40%, and year-to-date, Bitcoin has risen nearly 80%.

In addition to being stimulated by Trump's victory, the cryptocurrency market has also been boosted by the Federal Reserve's 25 basis point interest rate cut.

On November 7, U.S. local time, the Federal Reserve announced a 25 basis point reduction in the target range for the federal funds rate, lowering it to between 4.5% and 4.75%, marking the second rate cut of the year.

As early as two months ago, on September 18, the Federal Reserve announced its first rate cut of the year, reducing the target range for the federal funds rate by 50 basis points to between 4.75% and 5.00%. Following this news, Bitcoin surged, jumping above the $60,000 mark.

Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, previously stated that after Trump's victory, Bitcoin's price is expected to reach $125,000 by the end of this year and $200,000 by the end of 2025. Kendrick believes that Trump's previous commitments to cryptocurrencies, such as firing SEC Chairman Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping the U.S. into a "Bitcoin superpower," will drive Bitcoin's rise Guoyuan Securities stated that Trump's economic policies are favorable for cryptocurrencies. On one hand, Trump has a clear supportive attitude towards cryptocurrencies, and on the other hand, against the backdrop of increasing global divisions, the monetary attributes of cryptocurrencies are enhanced, similar to gold.

Related Concept Stocks:

Meitu Inc. (01357): The company purchased Bitcoin and Ethereum in previous years. As of June 2023, the company holds 940.497 Bitcoins and 31,000 Ethers, with the total holding cost accounting for about 10% of total assets. According to the cost disclosed in the semi-annual report, the company earned 161 million yuan from holding Bitcoin and 288 million yuan from holding Ethereum, totaling 450 million yuan in profit.

Xinhui Technology Holdings (01611): The company was formerly known as Huobi Technology and is currently one of the largest cryptocurrency platforms in the world. Xinhui Technology Holdings primarily provides virtual asset trading and technical solution services, including virtual asset lending asset management and providing an over-the-counter trading platform, acting as an exchange function.

OK Group (01499): According to the semi-annual report for the fiscal year 2024, the company has heavily invested in digital currencies, with digital assets reaching HKD 800 million, accounting for 75% of total assets. According to the disclosure, the company holds 1,725 Bitcoins and 6,571 Ethers, with a total value accounting for 43% of total assets, and an additional 21.7% of assets held in stablecoins.

OSL Group (00863): The company participated in UBS Group's pilot issuance of investment-grade warrants in Hong Kong, covering the entire product issuance cycle. This project involves UBS Group utilizing the Ethereum public chain to issue subscription warrant tokens linked to OSL digital asset securities and stocks