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Crypto Stocks Gain as Bitcoin Tops $72K for First Time Since March

Crypto Stocks Gain as Bitcoin Tops $72K for First Time Since March

Crypto Stocks Gain as Bitcoin Tops $72K for First Time Since March

Crypto-related companies looked set to start the week on a positive note.

Crypto-related companies looked set to start the week on a positive note.

Crypto-related companies looked set to start the week on a positive note.

AccessTimeIconApr 8, 2024, 9:19 AM
Updated Apr 8, 2024, 6:09 PM

U.S. crypto-related stocks looked set to start the week on a positive note after bitcoin (BTC) climbed through $72,000 for the first time since mid-March as its reward halving draws closer.

Coinbase (COIN), the only U.S. traded crypto exchange, added 4.9% in pre-market trading, MicroStrategy (MSTR), the largest corporate holder of bitcoin, rose 10% and BlackRock’s bitcoin exchange-traded fund (IBIT), added around 6.5%.

The CoinDesk 20 Index, a measure of the broader crypto market, rose 3.1% over 24 hours.

The halving, which cuts the amount bitcoin miners are paid for adding blocks to the blockchain by 50%, is on track for April 20. After it occurs, they will be rewarded with 3.125 BTC per block.

Among miners, Marathon Digital (MARA) added 5.2% and Hut 8 (HUT), which merged with USBTC at the end of last year, gained 5.6%. Argo Blockchain (ARB), trading on the London Stock Exchange, rose 5%.

Edited by Omkar Godbole.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.


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