Bitcoin Tops $79,000, Lifting Crypto Stocks; Canaan Jumps More Than 25%

Bitcoin’s move above $79,000 sent U.S.-listed cryptocurrency stocks broadly higher.

Bitcoin mining company Canaan Inc. rose more than 25% on Aug. 21, according to Cointelegraph. Bitcoin-holding companies Strive and Metaplanet also climbed more than 16% each.

The rally in crypto-related shares tracked Bitcoin’s continued advance past $79,000.

As Bitcoin extends its gains, price moves in related stocks, including miners and companies that hold the token, are also becoming more pronounced.

Bitcoin was trading at $77,132.37 on Binance’s Tether market as of 5:05 a.m. on Aug. 22, up 6.08% from a day earlier.