Why Are Crypto Stocks Up Today?


  • Crypto stocks are up today alongside a Bitcoin (BTC-USD) rally.
  • That saw the crypto’s tokens surpass $47,000 for the first time in two years.
  • That has crypto and mining stocks climbing higher on Friday.
Crypto Stocks - Why Are Crypto Stocks Up Today?

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Crypto stocks are up on Friday as investors in the digital currencies celebrate Bitcoin (BTC-USD) climbing above $47,000 per token for the first time since March 2022.

Bitcoin is the premier name among cryptos as it demands a high price per token and has a large public recognition. That means that any changes in the price of BTC can have an effect on other cryptos, as well as the stocks tied to them.

In this case, crypto stocks are up today thanks to BTC regaining lost ground. Thar rally also has traders hoping that the token will be able to surpass its previous all-time high of more than $65,000 in 2021.

Sylvia Jablonski, CEO and Chief Investment Officer at Defiance ETFs, said the following about the Bitcoin rally to CNBC:

“The recent price appreciation of bitcoin could be attributed to recent inflows into the spot ETFs, the prospect of the halving around the corner, which tends to generate optimism from investors as prices often shoot up after, and general market momentum.”

Let’s check out some of the top crypto stocks rallying on this news below!

Crypto Stocks Up Today

  • CleanSpark (NASDAQ:CLSK) stock is heading more than 16% higher on Friday morning.
  • Riot Platforms (NASDAQ:RIOT) shares are up over 5% as of this writing.
  • Marathon Digital (NASDAQ:MARA) stock is gaining more than 6% this morning.
  • Coinbase Global (NASDAQ:COIN) shares are also climbing over 6% higher today.
  • MicroStrategy (NASDAQ:MSTR) stock is rising more than 6% on Friday.

Investors who are looking for more of the latest stock market stories are going to want to stick around!

We have all of the hottest stock market news that traders need to know about on Friday! A few examples include why shares of CLK, Expedia (NASDAQ:EXPE) and BioXcel Therapeutics (NASDAQ:BTAI) stock are moving today. You can find out more on these matters at the following links!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/why-are-crypto-stocks-up-today-feb-9th/.

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