Crypto stocks rise as bitcoin pops above $100,000; MicroStrategy continues to load up
06/01/2025 17:24
** Cryptocurrency and blockchain-related stocks rise as bitcoin
reclaims the $100,000 level for the first time since Dec 19
** Bitcoin BTC= , world's biggest cryptocurrency, recently
up 3.8% at $101,933, while Ether ETH= up 1.3% to $3,694
** Shares of BTC hoarder, MicroStrategy MSTR.O , up >5% on the
session. Co on Mon disclosed on Dec 30 and Dec 31 it bought
approx 1,070 bitcoins for about $101 mln in cash at avg price of
$94,004/bitcoin, bringing its total holdings to approx 447,470
bitcoins
** Late Fri, MSTR
announced
targeted capital raise of up to $2 bln of preferred stock
to buy even more
** Crypto exchange Coinbase Global COIN.O up 6% on Mon,
and U.S.-listed shares of blockchain farm operator Bitfarms
BITF.O up 4%
** Crypto miners gain: Riot Platforms RIOT.O
, Mara Holdings MARA.O 3%, Hut 8 HUT.O 9%
**
Shares of retail trading platform Robinhood Markets HOOD.O
up ~4% on the session
** ProShares Bitcoin Strategy ETF BITO.P and iShares
Bitcoin Trust ETF IBIT.O both climbing about 4%
** BTC soared above the $108,000 mark last month amid hopes of a
friendlier regulatory environment for cryptocurrencies under a
Donald Trump administration
** Meanwhile, Bernstein
sees
BTC surpassing $200,000 by end-2025, citing potential for a
national reserve, increased ETF inflows and accelerated
institutional adoption, among other predictions
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))