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Crypto Stocks Surge as Bitcoin Reaches Three-Month Peak
U.S.-listed stocks with exposure to the digital asset market rallied sharply on Thursday, as Bitcoin climbed to its highest level in three months and fueled broad investor optimism in the sector.
Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, rose 4.8% to trade at $81,105.73, according to data from Investing.com. The move marks a three-month high for the asset.
Widespread Gains in Crypto Equities
The rally in the underlying asset translated into significant gains for companies whose business models are closely tied to the crypto market. Major crypto exchanges and trading platforms saw their shares jump.
Key movers in Thursday's session included:
- Robinhood Markets (HOOD): +16.3%
- MicroStrategy (MSTR): +15%
- Webull (BULL): +12%
- Coinbase Global (COIN): +10.6%
Policy News Lifts Market Sentiment
AdThe recent price strength in the digital asset space has been attributed to several factors. According to the source report, the rally gained momentum after U.S. President Donald Trump encouraged Congress to advance a crypto bill.
The market also received a boost from a U.S. Treasury Department initiative to support long-dated bonds, a move that can influence investor appetite for alternative assets like cryptocurrencies.
Miners and Infrastructure Players Soar
Cryptocurrency mining companies, which are highly sensitive to the price of Bitcoin, also experienced a surge in their stock values. Riot Platforms (RIOT) climbed 11.4%, Mara Holdings (MARA) rose 10%, and Bit Digital (BTBT) increased 15.8%.
Other notable performers included American Bitcoin (ABTC), which surged 18.4%. Bitcoin mining equipment maker Canaan (CAN) jumped 23.4%, while stablecoin issuer Circle Internet (CRCL) gained 15.8%.
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