Crypto Biz: Bitcoin pumps, Wall Street does the paperwork
·2 min read
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Bitcoin’s $80,000 rebound lifts crypto stocks as Circle, Strategy and Solana show how capital markets, stablecoins and onchain growth are driving crypto’s recovery.
Key facts
Solana processed a record 4.2 billion onchain transactions in July, preceding a 40% rally that pushed SOL above $100 for the first time since February, according to onchain data presented
Strategy also has cash reserves equal to 2.6 times its annual obligations, while its Bitcoin holdings are worth $66.7 billion against a cost basis of $63.36 billion
Bernstein maintained its Outperform rating on Circle (CRCL) and a $140 price target, implying roughly 60% upside
Circle shares have been volatile since the company’s June 2025 IPO, when the stock was priced at $31
Summary
Bitcoin’s return above $80,000 is exposing how much the crypto indus. This week’s Crypto Biz looks at how that relationship is reshaping the companies, balance sheets and networks behind the market’s rebound. Bitcoin’s rally above $80,000 lifted crypto stocks as miners and digital asset treasury companies posted double-digit gains, tracking a broader recovery fueled by the US Treasury’s plan to double certain long-dated bond buybacks. Canaan, MARA Holdings and Strive were among the biggest gainers over the past week, while Coinbase and Robinhood also rallied.