Crypto stocks gain as BTC nears all-time high

Investing.com -- Cryptocurrency stocks are gaining on Monday, with Bitcoin edging closer to its previous all-time high.

Earlier in the session, the leading cryptocurrency pushed above the $122,000 mark. However, it has since pulled back to around $120,560, up 1% on the day.

The renewed momentum in the world’s largest digital asset is translating into gains for publicly traded companies in the crypto sector.

Leading the charge are major players like Coinbase (NASDAQ: COIN) (+3.6%), Strategy (2.9%), and Robinhood (NASDAQ: HOOD) (+2.4%).

Coinbase, a prominent cryptocurrency exchange, has seen its stock price climb as investor interest increases.

Strategy, known for its corporate strategy of accumulating a large Bitcoin treasury, is also benefiting directly from the price appreciation of the digital currency. Meanwhile, Robinhood offers crypto trading alongside traditional stock and options.

Bitcoin miners are also enjoying the bullish sentiment. Mara Holdings (+3.6%), Riot Platforms (NASDAQ: RIOT) (+3.3%) and Hut 8 (+3.2%), major players in the mining industry, are seeing their stock prices rise.

As the price of Bitcoin increases, the value of the mined digital assets held by these companies grows, boosting their profitability and attracting investor attention.

The overall market sentiment and favorable regulatory environment continue to fuel the rally across the crypto ecosystem.

You May Also Be Interested In

• Citizens Starts CleanSpark Inc. (CLSK) at Market Outperform
• Kepler Cheuvreux Upgrades Azelis Group NV (AZE:BB) to Hold
• Kepler Cheuvreux Downgrades Telecom Italia SpA (TIT:IM) (TI) to Hold