Bitcoin’s recent surge to $52,000 has not only captivated cryptocurrency enthusiasts but also had a notable impact on the shares of various US-listed companies focusing on crypto-related ventures.
According to data from CryptoSlate, Bitcoin’s price experienced a robust increase of more than 6%, reaching a peak of $52,021 before retracing slightly below this psychological threshold at the time of reporting. This bullish movement not only propelled Bitcoin’s market capitalization to $1 trillion but also elevated it to an elite class of assets that includes major tech giants such as Meta, Amazon, and Microsoft.
Additionally, reports from CryptoSlate Insight highlighted a significant rise in Bitcoin whales—entities holding 1,000 BTC or more—during this upward trajectory to the new peak.
Following Bitcoin’s rally, numerous crypto-focused firms saw substantial increases in their stock prices during early trading hours. Among these, leading cryptocurrency exchange Coinbase witnessed a notable surge of 6.71%, with its shares reaching $150. Similarly, trading platform Robinhood experienced a significant uptick of 14.44%, with its shares climbing to $13.56.
MicroStrategy, renowned for its staunch advocacy of Bitcoin and holding the largest public stake in the cryptocurrency, also saw its stock (MSTR) rise by 9% during early trading, reaching $756—the highest level since 2021.
Moreover, companies involved in crypto mining observed a reversal of the previous day’s downward trend, with their share prices experiencing substantial gains. Iris Energy’s stock saw the most significant increase, soaring by 19.22% to $8.25, closely followed by CleanSpark, which surged by 14.79%. Marathon Digital and Riot Platform also witnessed notable spikes of 13.22% and 10.36%, respectively.
These positive performances in both crypto-related stocks and newly launched spot Bitcoin exchange-traded funds (ETFs) underscore the escalating interest in cryptocurrency investments and the growing recognition of crypto assets as viable investment options.
