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The Trump trade showed its resilience this week
  + stars: | 2024-11-22 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
Small-cap stocks were one of the biggest winners on Wall Street this week, serving as a prime example that the Trump trade is alive and well after a brief pause . Small caps were not the only components of the Trump trade that had strong gains this week. According to Tom Fitzpatrick, managing director at R.J. O'Brien & Associates, all signs point toward the Trump trade staying strong. Tesla, other stock components of the Trump trade Electric vehicle stock Tesla advanced nearly 10% this week. "I believe energy still has a lot to prove and the Trump trade didn't work out as well as investors thought it supposed to over his first term."
Persons: Trump, Russell, Donald Trump, Tom Fitzpatrick, Fitzpatrick, Bitcoin, Gary Gensler, Tesla, Elon Musk, Vivek Ramaswamy, Halliburton, Jay Woods, Woods Organizations: Nasdaq, Dow Jones, Investors, Trump, Tesla, Trump Media & Technology Group, Halliburton, U.S . Steel, O'Brien & Associates, CNBC, U.S, Securities and Exchange Commission, Freedom Capital Markets . Energy
Bitcoin 's gold-like ability to resist any form of seizure makes it a valuable asset for the long term, according to BCA Research, which calls for the world's largest cryptocurrency to eventually rally to more than $100,000. "The bitcoin price will rise well into the $100,000s as the market value for non-confiscatability grows substantially and bitcoin's share of this market grows substantially," Montreal-based BCA Research said. BTC.CM= YTD mountain Bitcoin Bitcoin hit a new all-time high above $73,000 on March 14, rising more than 70% this year. The introduction of U.S. spot bitcoin ETFs this year and the tightening bitcoin supply ahead of the late April " halving " have driven the price of the cryptocurrency up. "The sharp recent rallies in both gold and bitcoin reflect that the market has suddenly upped the value of non-confiscatability," BCA said.
Persons: Bitcoin, Dhaval Joshi, Joshi, bitcoin, Bullion, — CNBC's Michael Bloom Organizations: BCA Research, Research, BCA Locations: Montreal
MicroStrategy's Michael Saylor said bitcoin could return $68,000 in four years and then hit $500,000 within the next decade. While bitcoin has shed roughly 60% so far in 2022, MicroStrategy has continued to buy the dip on the token. "The next logical stop for bitcoin bitcoin is to replace gold as a non-sovereign store of value asset," he said. MicroStrategy, Saylor added, is still building out the Lightning Network, a payment protocol using the bitcoin blockchain. While bitcoin has shed roughly 60% so far in 2022, Saylor's MicroStrategy has continued to buy the dip on the token.
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