Crypto stocks rally as bitcoin exceeds $42,000
26/01/2024 18:40
** Cryptocurrency and blockchain-related firms rally on Fri
as bitcoin surpasses the $42,000 level
** Bitcoin BTC= , world's biggest cryptocurrency, recently
up 5.5% $42,085, while Ether ETH= up 2.2% at $2,226.80
** Crypto exchange Coinbase Global COIN.O up >3%, and
blockchain farm operator Bitfarms BITF.O up 13%
** Separately, Oppenheimer upgraded COIN to "outperform"
from "perform"
** Crypto miners advance: Riot Blockchain RIOT.O 7%,
Marathon Digital MARA.O 10%, Hut 8 Mining HUT.O 7%, Bit
Digital BTBT.O 7%
** Shares of software firm and notable BTC buyer
MicroStrategy MSTR.O gains 8%
** BTC mining machine makers Ebang International EBON.O
and Canaan Inc CAN.O up 7% and 11%, respectively on the
session
** ProShares Bitcoin Strategy ETF BITO.P rallies 5.5%,
while ETFs tied to spot price of BTC such as iShares bitcoin ETF
IBIT.O , Ark 21Shares ARKB.N and Grayscale Bitcoin ETF
GBTC.K all up >5%
** BTC on course for 3rd straight day of gains after having
fallen more than 20% from peak hit this month after the U.S.
approved its first spot bitcoin traded ETF
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))