Bitcoin
Strategy and Coinbase Shares Surge as Bitcoin Rebounds Above $80,000
Crypto-linked equities posted strong gains following Bitcoin's move above $80,000 alongside supportive macroeconomic signals and corporate announcements.
Strategy Inc. and Coinbase Global Inc. recorded double-digit equity gains on Thursday as Bitcoin climbed nearly 5% over 24 hours to reach $80,982.09. Strategy shares advanced roughly 15% to trade above $142.09, while Coinbase rose over 10% past $193. The broader market rebound coincided with falling Treasury yields, a weaker U.S. dollar, and remarks from Federal Reserve Governor Christopher Waller suggesting support for holding interest rates steady.
Strategy's rally comes shortly after disclosing a resumption of Bitcoin acquisitions following a two-month hiatus, leaving the stock 31% above its 200-day simple moving average of $107.94. The firm also announced a partnership with Google Cloud to launch the AI Transformation Forum, an executive series running across seven U.S. cities focused on artificial intelligence scaling and data governance.
Coinbase's share price advance followed its September 2 launch of derivative contracts in Canada. The wider cryptocurrency market also strengthened, with Ethereum increasing 4.5% to $2,497.93 and XRP climbing roughly 9% to $1.45, lifting related equities including Circle Internet Group and Bitmine Immersion Technologies.
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