Bitcoin Rally Spills Over into Crypto Stocks as US Treasury and Trump Provide Support

Crypto stocks are surging as Bitcoin extends its weekly gain to over 23%, briefly topping $79,000 on Friday. This rally is not only affecting miners and treasury companies but also major exchanges and brokerage platforms.

Shares of Canaan, a leading Bitcoin miner, rose more than 25% on Friday, while MARA Holdings increased by nearly 16%. Strive, which holds over 20,000 BTC on its balance sheet, jumped more than 16%, outperforming other treasury companies like Metaplanet.

Coinbase and Robinhood are also experiencing double-digit percentage gains as the Bitcoin recovery spills over into publicly traded companies with direct exposure to digital assets. Ether has also gained nearly 30% over the same period, climbing above $2,400.