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Stock impact report

Bitcoin Tops $71,000—A 5-Month High—As Election, Inflation Questions Swirl [Forbes]

Core Scientific, Inc. (CORZ) 
Company Research Source: Forbes
Trump gives a keynote speech at the Bitcoin 2024 conference in Nashville in July. Getty Images Key Facts Bitcoin rose about 3% to as high as $71,887 at about 10:30 a.m. EDT, or 2:30 p.m. Greenwich Mean Time, Tuesday, the highest price for the token since May 21 (price movements in the 24/7 bitcoin market is most commonly measured in GMT). That moves bitcoin's October gain to 11%, outstripping the leading American stock index S&P 500's 1% advance this month. Other major digital assets rallied Tuesday, with ethereum up 4% to a 10-day high of $2.637, Binance coin up 2% to an eight-day high of $608 and Solana up 2% to a three-month high of $182. Also rallying were stocks of companies involved in bitcoin mining, the energy intensive process in which bitcoins are unlocked from the digital blockchain: Shares of Core Scientific, Marathon Digital and Riot Platforms each gained Tuesday and are up at least 15% apiece in October. Why Is Bitcoin Up? The bitcoin-led crypto rally is Show less Read more
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