Crypto-linked stocks gain after Bitcoin tops $80,000

Hut 8

25/08/2026 17:07

** Cryptocurrency and blockchain-related firms gain on Tues after Bitcoin popped above $80,000
** Bitcoin BTC= rose nearly 3% earlier on Tues and touched $81,237.94, its highest level since mid-May; world's largest cryptocurrency has since eased and currently up 0.5% at $79,311.36
** BTC jumped last week after U.S. President Donald Trump urged Congress to pass a crypto bill, and received a big boost after Treasury Department's move to support ​long-dated bonds renewed so-called debasement trade fears
** BTC has rallied roughly 25% over the past seven sessions, trimming YTD loss to about 10%; it's still well below the all-time high of around $126,000 hit in Oct 2025
** Shares of crypto exchange Coinbase Global COIN.O up 4% on Tues
** BTC hoarder Strategy MSTR.O rises 4%. Michael Saylor-led firm's stock rose on Mon after it set aside about $1.6 bln in cash to fund bitcoin purchases, buybacks among other corporate events
** Retail trading platform Robinhood Markets HOOD.O surges >7% on the session
** Crypto miners lift: Riot Platforms Inc RIOT.O 7%, Mara Holdings MARA.O 7%, Bit Digital BTBT.O >6%
** Shares of American Bitcoin ABTC.O, backed by two eldest sons of President Trump, up 7%; ABTC is a majority-owned subsidiary of Hut 8 HUT.O, which is up 5%
** BTC mining machine maker Canaan CAN.O up ~8%, stablecoin issuer Circle Internet CRCL.N up 4%
** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O both up about 1% on Tues
** Ether ETH= has also picked up steam recently and last week hit its highest level since Jan; ETH currently up 0.3% at $2,482.05
** Ether-linked stocks Bitmine Immersion Technologies BMNR.A and Sharplink Gaming SBET.O up 5% and 3%, respectively, on Tues

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))