Coinbase, Block, and Other Crypto Stocks Jump as Bitcoin Rallies Past $30,000

Shares jumped in companies exposed to cryptocurrency prices and dynamics in crypto markets on Tuesday after Bitcoin rallied past the key $30,000 level, marking its highest point since the bear market in digital assets accelerated last summer.

Coinbase Global (ticker: COIN) stock climbed 3% in U.S. premarket trading on Tuesday, with shares in Block (SQ) advancing 1.2%. MicroStrategy (MSTR) stock rose 3.3% and shares in Riot Platforms (RIOT) and Marathon Digital (MARA) both rallied 4%. Most of these five stocks also gained in Monday trading, when Bitcoin began trending sharply higher. Futures tracking the S&P 500 by comparison, were up 0.3% early Tuesday.