Bitcoin hitting $104,000 leads to surge in crypto stocks, with MicroStrategy seeing substantial gains

From Investing.com

December 5, 2024 1:30:20 pm:

Cryptocurrency stocks surged in premarket trading after Bitcoin hit $100,000 for the first time. MicroStrategy saw a 6.1% increase, while Robinhood and Coinbase rose 4.3% and 3.5%. Mara Holdings and Riot Platforms also saw gains. MicroStrategy’s stock is up 542.8% YTD, with a recent $1.5 billion Bitcoin acquisition.

Bitcoin surpassed $104,000, up 7.24% at $102,896. It has increased by over 140% this year. The recent appointment of pro-crypto Paul Atkins as SEC chairman has contributed to the surge. Federal Reserve Chair Jerome Powell likened Bitcoin to virtual gold, clarifying its role as a competitor to gold, not the dollar.

Read more at Investing.com: MicroStrategy Leads Crypto Stocks Rally as Bitcoin Hits $104,000 By U.Today