After Bitcoin reclaimed above $81,000 and Ethereum broke above $2,500, U.S. stocks of cryptocurrency-related companies showed significant strength. Companies with exposure to Bitcoin and Ethereum became the focus of the market, with Strategy and Bitmine Immersion Technologies leading the gains.
Strategy rose more than 17%.
The strategy rose 17.56% today, closing at $144.82. Market sentiment improved, linked to the company's resumption of Bitcoin purchases.
Previously, Strategy ended a 10-week buying pause by acquiring 4,603 bitcoins, with a transaction value of approximately $370 million. This move further reinforces its positioning as a "Bitcoin treasury."
Meanwhile, B. Riley Securities raised its target price for Strategy to $175. The firm believes the company’s bitcoin-centric treasury strategy continues to hold long-term value.
Partnership with Google Cloud brings new catalysts
In addition to its cryptocurrency holdings, Strategy also announced a partnership with Google Cloud to host a series of executive forums in seven U.S. cities focused on enterprise AI and secure database tools.
This partnership expands the company’s narrative beyond Bitcoin, positioning it for some investors as a hybrid of cryptocurrency assets and enterprise software.
BMNR rises with Ethereum's rebound
Another stock attracting attention is Bitmine Immersion Technologies, which rose over 15% as one of the publicly traded companies holding a significant amount of Ethereum.
Last week, the company purchased 53,501 ETH for approximately $131.3 million, marking its largest acquisition since June. As Ethereum rose 5.5% on the day to reach $2,528, market interest in companies with ETH as a core holding has intensified.
Additional information: The report noted that Bitmine’s $4 billion buyback program also provided additional support for the stock price movement.