Bitcoin Reaches Seven-Month Peak, Crypto Stocks Surge
U.S.-listed cryptocurrency stocks rose on Monday as Bitcoin, the world's largest cryptocurrency, touched its highest level in more than seven months.
The price of Bitcoin was last up 4.24% at $84,509.10, a significant increase that benefited various cryptocurrency-related companies.
Crypto exchange Coinbase Global (COIN) jumped 4.9%, while bitcoin-focused company Strategy (BITF) gained 6.9%. Trading platform Robinhood Markets (HOOD) added 3.8%, and Webull (WEBL) rose 2.6%.
Cryptocurrency mining companies also posted gains, with Riot Platforms (RIOT) climbing 4.6%, Mara Holdings (MARQ) increasing 4.9%, and Bit Digital (BTBT) advancing 2.9%. Shares of American Bitcoin (ABTC), backed by the two eldest sons of President Trump, surged 7.1%.
Stablecoin issuer Circle Internet (CRVL) gained 4.9%, while bitcoin mining machine maker Canaan (CAN) jumped 6.1%.