Bitcoin Surge Boosts Crypto Stocks as US Treasury Plan Takes Hold
The recent surge in Bitcoin's price has had a significant impact on the crypto market, with many companies seeing their stocks rise as a result. Canaan, MARA Holdings, and Strive were among the biggest gainers over the past week, while Coinbase and Robinhood also saw increases.
The rally was fueled by the US Treasury's plan to double certain long-dated bond buybacks, which helped push yields lower and boost risk appetite across crypto markets. Bitcoin extended its weekly advance past 23%, while Ether gained nearly 30% to trade above $2,500.
Circle's outlook is also looking up, with analysts at Bernstein predicting a new growth cycle for the company's USDC stablecoin. They argue that supply growth will pick up again over the next 12 months, driven by renewed crypto momentum, regulatory clarity, and broader payments adoption.