Bitcoin Hits Seven-Month High as Crypto Stocks Soar

Crypto stocks have climbed to new heights as Bitcoin reached its highest level in over seven months.

The world's largest cryptocurrency, Bitcoin, is currently trading at $84,509.10 after a 4.24% increase.

Crypto exchange Coinbase Global jumped 4.9%, while bitcoin-focused company Strategy gained 6.9%. Trading platform Robinhood Markets added 3.8%, and Webull rose 2.6%.

Cryptocurrency mining companies also posted gains, with Riot Platforms climbing 4.6%, Mara Holdings increasing 4.9%, and Bit Digital advancing 2.9%.

Shares of American Bitcoin, backed by the two eldest sons of President Trump, surged 7.1%. Stablecoin issuer Circle Internet gained 4.9%, while bitcoin mining machine maker Canaan jumped 6.1%.