Bit Digital, Inc. (BTBT) stock soared 5.61% in the pre-market session on Monday.
The rally in Bit Digital's shares was driven by a surge in the price of Bitcoin, which reached a record high above $106,000 in early Asian trading. This Bitcoin price surge was fueled by comments from President-elect Donald Trump, suggesting that he plans to create a U.S. bitcoin strategic reserve similar to the country's strategic oil reserve.
Bitcoin's new all-time high price, coupled with Trump's bullish statements about embracing cryptocurrencies, boosted investor sentiment and triggered a rally in crypto-related stocks like Bit Digital, which operates cryptocurrency mining facilities.
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