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Major crypto-related stocks and funds rallied Tuesday as bitcoin climbed 3%, and the Dow Jones Industrial Average
DJIA,
jumped more than 700 points.
The largest cryptocurrency
BTCUSD,
is trading at around $20,089, according to CoinDesk data. The Dow
DJIA,
rose 2.4% to 30,204, and the S&P 500
SPX,
gained 2.7% to 3,778, according to FactSet data. The Nasdaq Composite went up 3% to 11,153.
Stock indexes extended the Monday gains amid hopes that global central banks may slow down their interest rate hiking plans.
Following such leads, Coinbase Global Inc.
COIN,
shares on Tuesday surged almost 10% to around $72.32, and Michael Saylor’s MicroStrategy Inc.
MSTR,
shares advanced 8.9% to $244.04.
Shares of mining company Riot Blockchain Inc.
RIOT,
shares added 7.4% to $7.69, and that of Marathon Digital Holdings Inc.
MARA,
rallied 15% to $12.65. Another miner, Ebang International Holdings Inc.
EBON,
gained 5% to $0.44.
Overstock.com Inc.
OSTK,
shares rose 5.5% to $26.85. Shares of Block Inc
SQ,
formerly known as Square, increased 8.8% to $60.68.
Tesla Inc.
TSLA,
advanced 4.7% to $253.40, and PayPal Holdings Inc.
PYPL,
jumped 4.2% to $91.37. Nvidia Corp.
NVDA,
shares rose 4.3% to $130.47.
Advanced Micro Devices Inc.
AMD,
shares hiked 4% to $68.71.
Among crypto funds, ProShares Bitcoin Strategy ETF
BITO,
went up 3.2% to $12.45 Thursday, while its Short Bitcoin Strategy ETF
BITI,
lost 3.2% to $36.87.
Valkyrie Bitcoin Strategy ETF
BTF,
traded 3.1% higher at around $7.75, and VanEck Bitcoin Strategy ETF
XBTF,
climbed 3.7% to $19.79.
Grayscale Bitcoin Trust
GBTC,
posted a 4.5% gain to $12.19.
