Crypto stocks rise as bitcoin pops above $100,000; MicroStrategy continues to load up
2025-01-07
Category: None

** Cryptocurrency and blockchain-related stocks rise as bitcoin reclaims the $100,000 level for the first time since Dec 19
** Bitcoin BTCUSD, 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, 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 up 6% on Mon, and U.S.-listed shares of blockchain farm operator Bitfarms BITF up 4%
    ** Crypto miners gain: Riot Platforms RIOT           ~4%    , Mara Holdings MARA 3%, Hut 8 HUT 9%
    **     Shares of retail trading platform Robinhood Markets HOOD up ~4% on the session  
** ProShares Bitcoin Strategy ETF BITO and iShares Bitcoin Trust ETF IBIT 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  