Crypto Stocks Surge as Bitcoin Blasts Past $72,000

Shares of major cryptocurrency-linked companies rallied sharply Thursday as bitcoin surged above $72,000, its steepest one-day gain in months, igniting a broad risk-on move across digital-asset equities.

Strategy Inc. (MSTR), the bitcoin-holding company formerly known as MicroStrategy, jumped as much as 11%, trading near $112 a share after opening at $113.23 — up more than 7% from Wednesday’s close of $104.25.

Coinbase Global (COIN) climbed a similar amount, touching $174.78 intraday before settling around $171.56, a gain of roughly 7% on the day. Newly listed custodian BitGo Holdings (BTGO), along with other crypto-adjacent names such as BitMine, Circle and Robinhood, also posted solid gains as investors piled back into the sector.

The rally was fueled by bitcoin’s climb toward $72,637, up nearly 5% in 24 hours, as traders pointed to renewed optimism around Washington’s proposed CLARITY Act, favorable comments from the Trump administration on digital-asset policy, and reports of Treasury bond buybacks easing broader liquidity concerns.

Analysts also cited a roughly $3 billion short-covering squeeze in bitcoin futures markets, which accelerated the move higher and spilled over into equities with direct crypto exposure.

Ethereum, XRP and Solana outpaced bitcoin’s gains, with ether rising nearly 20% over the same period, reinforcing the risk-on mood.

The advance came even as broader U.S. equity futures traded lower, underscoring how selectively investors are rotating into crypto-correlated stocks. Some analysts urged caution, noting elevated volatility and warning that a pullback in bitcoin could quickly reverse the rally in these highly leveraged crypto proxies.