tradingkey.logo

BUZZ-Crypto stocks rise as bitcoin pops above $100,000; MicroStrategy continues to load up

ReutersJan 6, 2025 5:24 PM

** Cryptocurrency and blockchain-related stocks rise as bitcoin reclaims the $100,000 level for the first time since Dec 19

** Bitcoin BTC=, world's biggest cryptocurrency, recently up 3.8% at $101,933, while Ether ETH= up 1.3% to $3,694

** Shares of BTC hoarder, MicroStrategy MSTR.O, up >5% on the session. Co on Mon disclosed on Dec 30 and Dec 31 it bought approx 1,070 bitcoins for about $101 mln in cash at avg price of $94,004/bitcoin, bringing its total holdings to approx 447,470 bitcoins

** Late Fri, MSTR announced targeted capital raise of up to $2 bln of preferred stock to buy even more

** Crypto exchange Coinbase Global COIN.O up 6% on Mon, and U.S.-listed shares of blockchain farm operator Bitfarms BITF.O up 4%

** Crypto miners gain: Riot Platforms RIOT.O ~4% , Mara Holdings MARA.O 3%, Hut 8 HUT.O 9%

** Shares of retail trading platform Robinhood Markets HOOD.O up ~4% on the session

** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both climbing about 4%

** BTC soared above the $108,000 mark last month amid hopes of a friendlier regulatory environment for cryptocurrencies under a Donald Trump administration

** Meanwhile, Bernstein sees BTC surpassing $200,000 by end-2025, citing potential for a national reserve, increased ETF inflows and accelerated institutional adoption, among other predictions

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI