After Bitcoin returned above $81,000 and Ethereum broke through $2,500, crypto-related stocks in the U.S. stock market showed a clear strengthening trend. Listed companies with positions related to Bitcoin and Ethereum became the focus of the market, among which Strategy and Bitmine Immersion Technologies had the largest increases.
Strategy rose by over 17%
Strategy rose 17.56% on the day, closing at $144.82. The market sentiment has improved, which is related to the company's resumption of buying Bitcoin.
Previously, Strategy ended a 10-week buying hiatus and recently purchased 4,603 bitcoins, with a transaction amount of approximately $370 million. This move once again reinforces its position as a “bitcoin treasury.”
At the same time, B. Riley Securities raised the target price of Strategy to $175. The institution believes that the company's treasury strategy centered around Bitcoin still has long-term value.
Collaboration with Google Cloud brings new impetus
In addition to holding encrypted assets, Strategy also announced a collaboration with Google Cloud. The two parties will organize a series of executive forums in 7 cities across the United States, focusing on the enterprise AI and security database tools.
This collaboration has added a business narrative beyond Bitcoin for the company, and it has also led some investors to view it as a target that combines the concepts of crypto assets and enterprise software.
BMNR rises with Ethereum's rebound
Another stock that has attracted attention is Bitmine Immersion Technologies. As one of the listed companies that hold a large amount of Ethereum, the stock has risen by more than 15%.
The company purchased 53,501 ETH last week, with a transaction amount of approximately $131.3 million. This is its largest increase in holdings since June. As Ethereum rose by 5.5% on that day and reached $2,528, market interest in companies that have ETH as their core asset also increased.
Additional information:The report mentioned that Bitmine's $4 billion repurchase plan also provided additional support for the stock price trend.
