Cryptocurrency stocks are on a tear, buoyed by a Bitcoin price that topped $41,000 Monday for the first time in more than 20 months.
Bitcoin’s value climbed 5.2% Monday afternoon to $41,583, and the cryptocurrency is up more than 150% year-to-date.
Meanwhile, shares of cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) jumped 7.2% Monday to $143.37 and have rocked more than 86% higher since November 1.
CleanSpark Inc (NASDAQ:CLSK), a Bitcoin miner, is up over 13% to $8.64 on Monday. BANXA Holdings Inc (TSX-V:BNXA, OTCQX:BNXAF), a payment services provider for cryptocurrency exchanges, saw its stock climb more than 12% Monday to C$0.88 in Toronto and nearly double since the beginning of November.
Bitcoin still has a ways to go before reclaiming its all-time high of $67,500, though sentiment is positioned comfortably on the bullish side in the near term.
Case in point, the ProShares Bitcoin Strategy ETF, which measures bitcoin futures, is up more than 7% Monday to its highest point since May 2022.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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