Monday’s Bitcoin (BTC) price surge has catapulted Bitcoin-related stocks to new heights, with the likes of Coinbase (NASDAQ:COIN) and MicroStrategy posting new multiweek highs.
Bitcoin mining stocks saw significant gains amid BTC price momentum, with United States-listed Riot Blockchain (NASDAQ:RIOT) recording an 11.69% surge and Marathon Digital (NASDAQ:MARA) Holdings seeing a 14.6% increase. The upcoming halving event, which will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC per block, also likely contributed to the price increase.