Strategy · Coinbase · Circle · BitMine Immersion Technologies · Decrypt
Crypto Stocks Rip Higher as Strategy Rallies 12%, Coinbase Climbs 9%
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Crypto proxies in the stock market are staging their sharpest one-day rally of the summer.
Key facts
- Bitcoin treasury Strategy, which trades as MSTR, led the pack, up 11.95% to $103.58, while Coinbase (COIN) climbed 9.05% to $159.47
- Each one touched a fresh intraday high along the way, with MSTR reaching $106.90 (+13.07% off its open), COIN $165.74 (+12.37%), CRCL $81.22 (+10.10%), and BMNR $20.90 (+12.79%), before paring some
- The firm held 840,447 BTC and $4.8 billion in cash as of its most recent weekly filing, making its share price function almost like a leveraged bet on the coin it hoards
- Wednesday's equity pop tracks Bitcoin's own short squeeze toward $70,000, which liquidated more than a billion dollars in bearish crypto bets in a single hour
Summary
Strategy (MSTR) led crypto-linked equities, up 11.95% to $103.58, while Coinbase (COIN) rose 9.05% to $159.47. Circle (CRCL) added 9.44% to $78.50 and BitMine (BMNR) gained 9.68% to $20.05, tracking Bitcoin's surge toward $70,000 and a market-wide short squeeze. Strategy and Coinbase also rank among Wall Street's most shorted large-cap stocks, meaning today's pop may be squeezing equity bears too. Bitcoin treasury Strategy, which trades as MSTR, led the pack, up 11.95% to $103.58, while Coinbase (COIN) climbed 9.05% to $159.47.