Bitcoin Rallies to $81,282 as Crypto Stocks Surge
The price of Bitcoin surged to $81,282 on Thursday morning in New York, marking a nearly 3% increase over a 24-hour period. This rally comes after a 30-day surge of over 23%, following both positive regulatory news and announcements from the U.S. Treasury Department regarding debt buybacks.
The impact of this price hike wasn't limited to Bitcoin alone; other major crypto company stocks saw even greater gains. Bitcoin treasury Strategy (NASDAQ: MSTR) was trading more than 13% higher on Thursday, after resuming bitcoin buys following a 10-week pause to reshuffle its cash balance sheet.
America's biggest crypto exchange, Coinbase, also saw its stock shoot up by 11%. Meanwhile, top public bitcoin mining companies like HIVE Digital, MARA, and CleanSpark all rose on Thursday. HIVE Digital led the pack with a 13% jump, while MARA Holdings was up more than 10% on the day.
Clean energy bitcoin miner CleanSpark jumped by 9%, but IREN, which is slowly phasing out its mining operations to focus on AI-compute, was only up by 4%. This rally comes after a phenomenal run in August, when Bitcoin saw its third-best month ever following the U.S. Treasury Department's announcement to double the size of its government debt repurchases.