Bitcoin Surges to Near $67,000 as Crypto Stocks Follow

Bitcoin's price surged to nearly $67,000, its highest level in over a month, as crypto-related stocks also rose across the board. The rebound came despite Middle East tensions and fading expectations of interest rate cuts. Bitcoin Magazine reported that bitcoin briefly reached $66,886, up around 6% over the past seven days.

The Nasdaq-listed Strategy (MSTR) saw its shares rise above $100 a share, while Coinbase (COIN) gained 11% and Marathon Digital (MARA) climbed more than 6%. Strategy's recent change in cash management also drew attention. The company sold $225 million worth of MSTR stock and used the funds as dollar reserves.

Strategy has been buying bitcoin as an inflation hedge since 2020, holding around 843,775 BTC worth approximately $56.2 billion at current prices. However, its shares are still far below their peak of $473.83 in November 2024.