Crypto-Related Stocks Get Boost From Bitcoin's Record-Setting Performance
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Bitcoin's price has climbed about 26% so far in 2025Key Takeaways
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Several cryptocurrency-related stocks got a lift from bitcoin trading at an all-time high.
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Shares of Strategy, the biggest corporate holder of bitcoin, and crypto miners MARA Holdings and Riot Platforms all advanced.
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Bitcoin's price has climbed about 26% so far in 2025.
Shares of several cryptocurrency-related firms advanced Friday with bitcoin trading at an all-time high, as a weak dollar and Trump administration support for the industry have created a bull run for digital coins.
Shares of software maker Strategy (MSTR), the biggest corporate holder of bitcoin, were up nearly 3%. Shares of cryptocurrency miners MARA Holdings (MARA) and Riot Platforms (RIOT) added about 4% and 2%, respectively.
Bitcoin recently was trading at around $117,500 after topping $118,000 for the first time, and is about 26% higher year-to-date. Ether, the second-biggest digital coin, was hovering near $3,000.
Crypto trading platform Bitunix and others that analyze the crypto market noted that once bitcoin broke through the $112,000 barrier, many short sellers moved to cover their bets, which helped drive the price even higher. Bitunix added that the short-term bullish trend for bitcoin remains, "but as price enters a high-volume zone, the risk of chasing longs increases.”
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