Bitcoin Rally Lifts Crypto Stocks; Canaan Jumps More Than 25%
JH Kim
Summary
- Bitcoin (BTC) broke above $79,000, sending crypto-related stocks listed in the US broadly higher.
- Bitcoin miner Canaan (CAN) surged more than 25%, while Strive (ASST) and Metaplanet (MTPLF) each gained more than 16%.
- As Bitcoin's rally continues, volatility in shares of miners and Bitcoin-holding companies is increasing, with the token now trading at $77,132.37.
Forecast Trend Report by Period
Bitcoin-related stocks listed in the US climbed broadly after Bitcoin topped $79,000.
Cointelegraph reported on August 21 that Bitcoin miner Canaan Inc. surged more than 25%. Bitcoin-holding companies Strive (ASST) and Metaplanet (MTPLF) also gained more than 16% each.
The advance in crypto-linked stocks came as Bitcoin extended its rally and moved above $79,000.
As Bitcoin continues to rise, share-price moves in related stocks, including miners and companies holding Bitcoin, are also becoming more pronounced.
Bitcoin was trading at $77,132.37 as of 5:05 a.m. on August 22 in Binance's Tether market, up 6.08% from a day earlier.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.