Bitcoin Breaks Records at $111,800 — Major Crypto Stocks See Pre-Market Surge
Bitcoin just hit a new all-time high, and crypto stocks like MARA, Riot, and Coinbase are climbing fast. With JPMorgan now letting clients buy Bitcoin and stablecoin rules gaining traction in Washington, big changes are hitting the crypto space.
Bitcoin reached a new peak of $111,800 just after midnight Thursday (ET), setting a fresh record and pushing several cryptocurrency-related stocks higher in early trading.
The digital currency first passed the $110,000 mark late Wednesday. Although it briefly dipped below that level Thursday morning, the momentum from its historic rise continued to influence investor activity.
Stock Performance:
Companies tied directly to Bitcoin’s performance posted solid pre-market gains:
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MARA Holdings climbed 4.4%, reflecting stronger profitability as mining revenues increase alongside Bitcoin’s price.
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Riot Platforms rose 3.3%, also benefiting from improved mining conditions.
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Coinbase Global (COIN) added nearly 2%, likely driven by expectations of higher user engagement and trading activity.
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Strategy (MSTR) gained 1.6%, bolstered by its large Bitcoin holdings.
Recent Developments Supporting Bitcoin’s Rise:
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Senate Advances Stablecoin Regulation:
A U.S. Senate vote earlier this week supported a bill to create clear guidelines for stablecoin issuance and oversight. This step is being interpreted as a move toward structured involvement from federal lawmakers in the digital asset space, which could encourage more participation from both institutions and the public. -
JPMorgan Opens Bitcoin Access to Clients:
Jamie Dimon, CEO of JPMorgan Chase, confirmed that the bank will now allow its clients to invest in Bitcoin. This decision marks a major change from the bank’s earlier opposition to cryptocurrencies and comes in response to growing interest from its wealth management customers. -
Rising Demand for Direct and Indirect Exposure:
With a fixed supply and growing adoption, Bitcoin continues to attract attention from both individual and institutional investors. Companies adding Bitcoin to their reserves, along with investment firms seeking regulated ways to gain exposure, have played a key role in driving demand. -
Ongoing Expansion of Bitcoin ETFs:
Recent launches of spot Bitcoin exchange-traded funds in the U.S. have drawn significant capital, helping simplify access for investors who prefer traditional financial instruments. Expectations remain high for additional products to enter the market, which could further increase liquidity and participation.
Impact on Crypto Companies:
Bitcoin’s jump past $111,800 is having a clear effect on companies connected to the cryptocurrency. Mining firms like MARA and Riot stand to earn more as Bitcoin’s higher price makes their operations more profitable. Meanwhile, Coinbase usually sees increased trading activity when Bitcoin rallies, which can boost its revenue.
Strategy, which holds a large amount of Bitcoin, benefits directly as the value of its holdings climbs. These moves show just how closely these companies’ results are linked to Bitcoin’s price swings, making the cryptocurrency’s performance a key driver of their market value.
Also Read: Top 3 Spot Bitcoin ETFs to Buy With $100 and Hold Long-Term
