On November 12th, COINOTAG reported noteworthy developments in the cryptocurrency market, particularly relating to Destiny Tech100 Inc. (DXYZ), which has impressively increased by approximately 280% following Trump’s re-election as president. This dramatic surge is attributed to the company’s strategic holdings in significant private enterprises, including SpaceX and OpenAI, the latter of which is headed by prominent tech leader Sam Altman. On the trading front, DXYZ experienced tumultuous activity on Monday, peaking with a 38% increase, coming off a staggering 64% rise the previous Friday.
Additionally, the overall cryptocurrency market has capitalized on this momentum, with Dogecoin witnessing a substantial 20% climb on Monday alone. Elon Musk, a vocal supporter of Trump during the campaign, has seen his ventures evolve into highly sought-after investments among retail traders. Although direct investment in SpaceX poses challenges for individual investors, Destiny Tech100 offers a viable alternative for those seeking exposure to this thriving private sector.
According to the fund’s latest disclosure filings, as of June’s end, Destiny Tech100 holds an impressive 38% stake in SpaceX, with a total net asset valuation of around $56 million. This positions the fund as a significant player in bridging private equity opportunities for smaller investors interested in the evolving tech landscape.