Bitcoin Rallies Past $81,000 as Related Stocks Surge
Bitcoin and crypto stocks climb together
Bitcoin rose above $81,000 on Thursday, bringing crypto-related stocks higher with it. The price of the largest cryptocurrency reached $81,282 in the morning session in New York. This represented a gain of nearly 3% over the previous 24 hours.
The rally has been building for weeks. Over the last 30 days, the bitcoin price has surged more than 23%. The increase follows positive regulatory news and announcements from the U.S. Treasury Department about debt buybacks.
Publicly traded companies lead the gains
Crypto company stocks rose faster than bitcoin itself. Strategy, formerly known as MicroStrategy, saw its stock trade more than 13% higher. The company resumed buying bitcoin on Monday after pausing for 10 weeks to manage its cash balance sheet.
Coinbase also posted strong gains. The Nasdaq-listed exchange saw its stock rise 11%.
Bitcoin mining companies also saw significant growth:
- HIVE Digital jumped 13%, leading the group.
- MARA Holdings rose more than 10%.
- CleanSpark increased by 9%.
- IREN, which is shifting focus from mining to AI computing, gained 4%.
Treasury news and ETF inflows drive momentum
August was one of bitcoin's best months ever. The cryptocurrency posted its third-best August in history. The rally gained traction after the U.S. Treasury Department said it would more than double its government debt repurchases.
The move aimed to lower surging bond yields. However, it weakened the U.S. dollar. This shift benefited non-yielding assets like bitcoin and gold.
Investors responded quickly. Bitcoin exchange-traded funds (ETFs) — investment vehicles that track the price of bitcoin — received over $2.8 billion. That was the largest amount poured into these funds since October, when bitcoin first set a new all-time high.
Context on current price levels
Bitcoin had spent much of the year trading below $80,000. Prices were mostly below $65,000 during June and July. The cryptocurrency eventually hit a record high of $126,080 in October. It is currently nearly 40% below that peak.
What remains to be seen
President Donald Trump has urged lawmakers to pass the Crypto Clarity Act, a long-awaited piece of legislation for the digital asset industry. Investors are watching to see if this will further support the current rally.
