Crypto stocks Gain as Bitcoin Crosses $100,000 Milestone
Crypto stocks experienced a surge in Friday’s trading as Bitcoin exceeded the $100,000 milestone for the first time. Strong global demand and optimism following Donald Trump’s election victory fueled the cryptocurrency’s gains.
MicroStrategy led the way, surging 7% on the back of its strategy to aggressively acquire Bitcoin through a combination of equity and convertible debt. The company has leveraged its equity premium to outpace share dilution and rapidly expand its Bitcoin holdings.
The move helped boost MicroStrategy’s stock. Other cryptocurrencies exchanged hands as Coinbase gained 5%, while mining stocks such as Mara Holdings, Riot Platforms, Hut 8, and Hive Digital traded higher.
