Bitcoin's Price Surge Triggers Crypto-Linked Stocks Rally

Crypto-linked equities surged on Wednesday as Bitcoin's price reached $69,000. However, the gains were pared as BTC's price dropped to around $68,700.

The rally in crypto-linked stocks was led by Circle Internet Group, which saw its stock jump 35% after beating Wall Street expectations for earnings. The company reiterated a 40% CAGR for USDC's circulation growth and revenue between $150 million to $160 million through the year.

The surge in Bitcoin's price also pushed MSTR's stock up nearly 9%, while BMNR's stock gained 10%. Strive Asset Management was another top gainer, with a nearly 20% jump in regular trade. However, all three stocks edged lower after hours as Bitcoin's price pared some of its gains.