Shares of Strategy Inc. and Coinbase Global Inc. climbed sharply on Thursday, leading gains among crypto-linked stocks as Bitcoin rebounded above the $80,000 mark. Bitcoin advanced nearly 5% in the past 24 hours to reach $80,982.09, sparking renewed investor interest in companies with significant exposure to the digital asset market.
Fed comments ease policy fears
The rally in the crypto sector followed remarks from Federal Reserve Governor Christopher Waller, who indicated support for holding US interest rates steady. His comments suggested a reduced likelihood of additional tightening in monetary policy, lowering Treasury yields and contributing to a weaker US dollar.
Market analysts have suggested that these developments boosted risk appetite and provided a supportive environment for speculative assets, including cryptocurrencies and related stocks.
Federal Reserve Governor Christopher Waller expressed a preference for maintaining interest rates at their current level, which contributed to increased demand for speculative assets as policy concerns eased.
Strategy Inc. gains after resuming Bitcoin purchases
Strategy Inc., a business intelligence and software company formerly known as MicroStrategy, has long maintained close ties to Bitcoin’s price performance through significant holdings on its balance sheet.
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AAPLEarlier this week, Strategy disclosed that it resumed Bitcoin acquisitions following a two-month pause. On Thursday, the company’s stock surged more than 15% to trade above $142.09, standing approximately 31% higher than its 200-day simple moving average of $107.94.
In addition to its crypto exposure, Strategy announced a new initiative with Google Cloud. The companies have launched the AI Transformation Forum, a series of executive events in seven US cities aimed at helping organizations scale artificial intelligence with trusted data and governance frameworks. Forums are scheduled for New York City, Boston, Washington, D.C., Sunnyvale, Chicago, Dallas, and Atlanta this fall, with plans to address topics such as enterprise data, AI governance, semantic layers, token and compute efficiency, and the transition from pilot projects to full-scale production.
Mini dictionary: Strategy Inc. is a Nasdaq-listed business intelligence and cloud software firm best known for its large institutional Bitcoin holdings, which directly influence its share price in response to movements in the cryptocurrency market.
Coinbase extends rally as derivatives launch in Canada
Coinbase Global Inc., described as the largest crypto trading exchange in the United States, also gained from the surge in digital asset prices. Coinbase shares jumped by more than 10% to trade above $193. The company launched derivative contracts in Canada on September 2, expanding its reach into North American markets.
The move came as major cryptocurrencies posted notable gains. Ethereum rose 4.5% to $2,497.93, while XRP appreciated approximately 9% to $1.45.
Coinbase’s recent launch of derivatives in Canada has enhanced its international presence while the firm benefited from the rebound in Bitcoin, Ethereum, and $XRP.
| Company | Stock Gain | Current Price |
|---|---|---|
| Strategy Inc. | +15% | $142.09 |
| Coinbase | +10% | $193 |
| Circle Internet Group | +15% | $102 |
| Bitmine Immersion Technologies | +13% | $26 |
| Robinhood Markets | +15% | $124 |
| Galaxy Digital | +11% | $26 |
Crypto-related equities rally broadly
The positive momentum spread across a range of crypto-linked stocks. Circle Internet Group shares climbed more than 15% to above $102, while Bitmine Immersion Technologies rose 13% to above $26.
Robinhood Markets advanced more than 15% to over $124 after Morgan Stanley increased its price target from $124 to $150. Galaxy Digital shares gained over 11% to reach $26, following Morgan Stanley’s price target revision from $37 to $48.
These gains came as the digital asset sector recovered from recent declines, with Bitcoin’s move above $80,000 offering a more favorable backdrop for companies involved in cryptocurrency trading, holdings, and associated services.
For Strategy and Coinbase, Thursday’s rally coincided with a stronger crypto market, as investors responded to shifting expectations around US monetary policy and overall financial conditions.
