Tesla, Bitcoin and Truth Social are booming after the election

The value of assets tied to Donald Trump — and those expected to benefit from them under his administration — is surging following his decisive election victory on Tuesday.

The pioneer was Trump Media and Technology Group (TMTG), the company that owns the social media platform Truth. The stock rose 25% in early trading Wednesday. Trump is the majority owner of TMTG.

Shares of Tesla, Elon Musk's electric car maker, also saw a significant increase – up 12%. Musk has been heavily involved in promoting Trump's campaign, and the president-elect has indicated that he would appoint Musk, the world's richest person, to a Cabinet-level position tasked with cracking down on perceived government waste.

Finally, Bitcoin price rose by 6.5% and briefly reached an all-time high of over $75,000. Cryptocurrencies and companies in the crypto sector recorded significant increases across the board.

Trump has promised to reduce government oversight of the cryptocurrency industry, which provided a steady stream of money to his campaign and, to a lesser extent, his Democratic rival, Vice President Kamala Harris, throughout the presidential campaign. Trump served as a keynote speaker at this year's annual Bitcoin conference in Nashville.

In a note to clients Wednesday, Isaac Boltansky, managing director and director of policy research at BTIG, a financial services firm, pointed out that several other sectors are likely to benefit from a second Trump presidency, including private prisons, fossil fuels, nuclear power and clean coal companies Defense industries and online consumer finance companies that might otherwise have faced close regulatory scrutiny.

Trump has generally promised to extend tax breaks or make larger tax cuts while easing regulations, which has been warmly received by the business community. Stocks rose across the board on Wednesday on expectations of more stable economic growth.