Bitcoin rally drives crypto-related stocks to double-digit gains

Bitcoin surpasses $79,000, lifting crypto stocks

Shares of companies tied to Bitcoin rose sharply on August 21, 2026, as the price of Bitcoin climbed above $79,000. The rally followed an announcement by the U.S. Treasury that it would double certain long-dated bond buybacks to improve liquidity in the Treasury market. This move also boosted risk appetite among investors.

Bitcoin, a digital currency that operates on a decentralized network called blockchain, saw its price increase by over 6% in a single day. Ether, another major cryptocurrency, rose nearly 30% over the same period, reaching above $2,400.

Key gains in crypto-related stocks

• Canaan, a company that manufactures Bitcoin mining machines, saw its stock rise more than 25%.
• Strive, which holds over 20,000 Bitcoin on its balance sheet, jumped more than 16%.
• Metaplanet, a Japan-listed company that recently expanded its Bitcoin treasury strategy, also gained over 16%.
• MARA Holdings, another Bitcoin mining company, edged higher after rising nearly 16% the previous day.
• Crypto exchange Coinbase and trading platform Robinhood posted double-digit percentage gains.

U.S. Treasury bond buybacks fuel market optimism

The U.S. Treasury’s decision to increase bond buybacks was aimed at supporting liquidity in the Treasury market. This action helped increase investor confidence, leading to a broader rally in risk assets, including cryptocurrencies and crypto-related stocks.

Trump’s comments add to crypto market momentum

U.S. President Donald Trump contributed to the rally by renewing calls for Congress to advance the CLARITY Act. The bill, which has not moved forward since the August recess, aims to create a clearer regulatory framework for digital assets in the U.S. Trump also suggested the U.S. government could acquire Bitcoin on a large scale after meeting with crypto industry leaders.

What is confirmed

• Bitcoin’s price briefly topped $79,000 on August 21, 2026.
• Ether’s price rose nearly 30% over the same period, climbing above $2,400.
• Shares of Canaan, Strive, Metaplanet, MARA Holdings, Coinbase, and Robinhood posted double-digit gains.
• The U.S. Treasury announced plans to double certain long-dated bond buybacks.
• President Trump called for the advancement of the CLARITY Act and discussed large-scale Bitcoin acquisitions by the U.S. government.

What is still unclear

• Whether the CLARITY Act will pass through Congress remains uncertain.
• It is unclear if or when the U.S. government will proceed with large-scale Bitcoin acquisitions.
• The long-term impact of the U.S. Treasury’s bond buyback program on crypto markets is not yet known.

Why this matters for investors

The surge in crypto-related stocks shows how closely these companies are tied to the price of Bitcoin. When Bitcoin rises, companies involved in mining, holding, or trading it often see their stock prices increase as well. The U.S. Treasury’s bond buyback program and political support for clearer crypto regulations may further boost investor confidence in the sector.

Sources

• Cointelegraph