2024.02.12 18:05
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BUZZ-Crypto stocks jump as bitcoin surpasses $50,000

Crypto stocks surged as bitcoin surpassed $50,000 for the first time since December 2021. Bitcoin and Ether both saw gains, while crypto exchange Coinbase Global and blockchain farm operator Bitfarms also experienced increases. Shares of software firm MicroStrategy, a notable bitcoin buyer, surged over 10%. Bitcoin mining machine makers Ebang International and Canaan Inc also saw gains. ProShares Bitcoin Strategy ETF and ETFs tied to the spot price of BTC also experienced increases. Bitcoin is up over 17% year-to-date.

(Updates stock activity, bitcoin $50k milestone)

** Cryptocurrency and blockchain-related cos jump on Mon as bitcoin surpasses $50,000 mark for first time since Dec 2021

** Bitcoin (BTC=) , world’s biggest cryptocurrency, last up 5% at $49,930 after rising as high as $50,338.50, while Ether (ETH=) rose 4.1% to $2,606.60

** Crypto exchange Coinbase Global (COIN.O) up 5%, and blockchain farm operator Bitfarms (BITF.O) up ~12% on the session

** Crypto miners climb: Riot Platforms (RIOT.O) 11%, Marathon Digital (MARA.O) 12%, Hut 8 Mining (HUT.O) 11%, Bit Digital (BTBT.O) 7%

** Shares of software firm, notable BTC buyer MicroStrategy (MSTR.O) surges >10%

** BTC mining machine makers Ebang International (EBON.O) and Canaan Inc (CAN.O) up 8% and 23%, respectively

** ProShares Bitcoin Strategy ETF (BITO.P) up 5%, while ETFs tied to spot price of BTC such as iShares bitcoin ETF (IBIT.O) , Ark 21Shares (ARKB.N) and Grayscale Bitcoin ETF (GBTC.K) all up >5%

** With move on Mon, BTC up >17% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)