Influential investor and CEO of Gerber Kawasaki Wealth and Investment Management, Ross Gerber, declared Bitcoin (CRYPTO: BTC) as the true winner of the U.S. elections amid the leading cryptocurrency's record-shattering rally.
What Happened: Gerber took to X, expressing his views on the post-election market rally. He added a 'fire' emoji to represent the blistering trajectory of the world's largest cryptocurrency over the last week.
Bitcoin is - the true winner of the election.
— Ross Gerber (@GerberKawasaki) November 11, 2024
Gerber added that his investment advisory firm has exposure to Bitcoin, apart from their biggest position in artificial intelligence behemoth Nvidia.
We also own bitcoin, and Nvidia is our top position. It's been a good post election rally for markets and stocks. Lower rates. Economy is decently strong as well. Quite a set of factors for a market rally.
— Ross Gerber (@GerberKawasaki) November 11, 2024
As per the latest 13F filing with the SEC, the firm holds 31,588 shares of iShares Bitcoin Trust ETF (NASDAQ:IBIT), with an estimated market value of $1.56 million.
Why It Matters: Gerber's bullish views come amid an ongoing cryptocurrency bull run that has seen Bitcoin establish record highs on a daily basis. On Monday, the digital asset spiked above $89,500.
Following Donald Trump's presidential victory last week, Bitcoin hasn't looked back, with its weekly gains exceeding 30%.
That said, Gerber's optimism didn't cover the entire cryptocurrency market.
Earlier in March, Gerber, a known Tesla investor, urged investors to focus on established cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), referring to them as the king and queen of the crypto world. He had cautioned against investing in lesser-known cryptocurrencies, commonly referred to as "sh*tcoins".
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,581.58, up 9.64% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
