Crypto-related stocks are seeing a second day of big gains after bitcoin on Monday evening pushed through $30,000 for the first time since June 2022. At press time, it’s managed to hold that advance, trading at $30,100.
Bitcoin miners Riot Platforms (RIOT) and Marathon Digital (MARA) are ahead 15% and 11%, respectively. Smaller players like Stronghold Digital (SDIG) and Iris Energy (IREN) are up nearly 20%.
The big advance in bitcoin over the past two days has pushed MicroStrategy’s (MSTR) holdings – 140,000 coins purchased at an average price of $29,803 each – back into profit. MSTR shares are higher by 7% on Tuesday.
Crypto exchange Coinbase (COIN) and Mike Novogratz’s crypto merchant bank Galaxy Digital (GLXY.TO) are also each up by about 7%.
Bitcoin pulled out a tight range around the $28,000 level on Monday afternoon and then pushed through $30,000 for the first time since June 10, 2022 late Monday evening, rising to as high as $30,400. The crypto is now up more than 80% in 2023 after having started the year at about $16,500.