Bitcoin Surges to Nearly $81K, Taking Industry-Related Stocks With It

Bitcoin surged to nearly $81,282 on Thursday morning in New York, a 3% increase over the previous 24 hours. This marks the latest rally in the price of the biggest cryptocurrency, which has seen a 23% surge over the past 30 days.

The uptrend is attributed to both positive regulatory news and announcements from the U.S. Treasury Department regarding debt buybacks. The Treasury's plan to more than double its government debt repurchases has hurt the dollar but benefited non-yielding assets like bitcoin and gold.

Industry-related stocks are also seeing significant gains, with Bitcoin treasury Strategy (NASDAQ: MSTR) up 13% and Coinbase (COIN) trading 11% higher. Bitcoin mining companies such as HIVE Digital, MARA, and CleanSpark are also experiencing a boost, with HIVE Digital leading the pack at 13%.