Coinbase, MicroStrategy, and Other Crypto-Related Stocks Advance as Bitcoin Surges

Crypto-related stocks rose on Monday as Bitcoin amassed some gains, increasing over 4% to $29,200. Following the initial jump, the top cryptocurrency has continued to improve, pulling in almost 7% increases and trades above $30,000. In the last 24 hours, $BTC has traded between $29,189.27 and $30,399.46. Notably, this is the crypto’s highest addition since the 10th of June. 2022.

As expected, the latest improvements to the price of Bitcoin also pushed some crypto-related stocks. Due to their close relationships with Bitcoin, these crypto-related stocks suffered while $BTC plunged over the past months. However, the recent positive performance has helped the companies rebound to some extent.

Latest Bitcoin Gains Pushes Crypto-Related Stocks

Public-listed exchange company Coinbase (NASDAQ: COIN) closed up 7.63% to $66.13. The company has continued with a positive streak of 1.9% in extended trading sessions. Now, Coinbase has almost 99% growth to its name in the last three months.

More crypto-related stocks that advanced as Bitcoin surged are Marathon Digital (NASDAQ: MARA) and MicroStrategy (NASDAQ: MSTR). Same as Coinbase, digital asset technology company Marathon Digital popped 12% as Bitcoin topped a new level in June 2022. At the end of the trading session, MARA closed up 14.04% to $9.10 and added another 1.54% in the after-hours period. Following the recent increase, Marathon Digital has grown by over 4% in the last five days and 70.73% over the past month.

For MicroStrategy, which has 140,000 BTCs to its name, the company closed Monday’s trading up 7.82% to $312.78. Following the trading session, the company further went up 2.30% to $319.98. The pro-$BTC business intelligence company has been on the rise since the year began, adding 120.94% since the beginning of January. At the same time, MSTR has popped 94.94% in the last three months, as it advanced nearly 63% over the past month. In the last five days, MicroStrategy has spiked 7%.

Bitcoin miners Riot Platforms (NASDAQ: RIOT) and Hut 8 Mining (NASDAQ: HUT) are also crypto-related stocks that rose as $BTC’s price did better in months. When trading closed at the end of the day, RIOT was 15.50% to $10.58. After the session and after-hours period, the company rose a little more by 2.46% to $10.84. In its year-to-date record, Riot Platforms has surged 212.09% and another 147.20% in the last three months. Bitcoin miner Hut 8 Mining stock ended the Monday trading session at 9.52%, up to $1.8400. Despite the recent additions, HUT has lost 0.54% in the last five days.