Crypto Stocks MicroStrategy, Coinbase and Marathon Post Just Modest Gains as Bitcoin Eyes Record High
Summary
Bitcoin reached multi-month highs near $72,000, close to its March record of $73,700, trading at $71,700 with a 4.3% increase over 24 hours. U.S.-based spot ETFs saw $417 million in inflows, with BlackRock’s iShares Bitcoin Trust contributing $315 million, raising its assets to $28 billion. Despite Bitcoin's rise, crypto-related stocks showed modest gains. MicroStrategy increased by 0.9%, Coinbase by 1.2%, MARA Holdings by 1.4%, Riot Platforms by 3%, and Hut 8 by 3%. Bitfarms outperformed with a 5.3% rise, influenced by Andrew Chang's board nomination amid a takeover bid from Riot Platforms.
