Bitcoin rally sends crypto stocks soaring as miners, treasury companies jump
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- Bitcoin extended its weekly gain to more than 23% on Friday, briefly topping $79,000 per CoinMarketCap, while Ether climbed above $2,400 with a nearly 30% weekly rise.
- Canaan led crypto-mining stocks with a jump of more than 25% on Friday, while MARA Holdings had gained nearly 16% during Thursday's session.
- Strive, which holds more than 20,000 Bitcoin on its balance sheet, and Japan-listed Metaplanet both rose more than 16% on Friday; Metaplanet recently expanded its Bitcoin treasury strategy via its acquisition of Nasdaq-listed Super League Enterprise.
- Coinbase and Robinhood posted double-digit percentage gains, underscoring the rally's spillover into publicly traded companies with direct crypto exposure.
- The rally drew support from the US Treasury's decision to double certain long-dated bond buybacks — a liquidity move aimed at supporting the Treasury market that also bolstered risk appetite across digital assets.
- Trump renewed calls for Congress to advance the stalled CLARITY Act and revived the prospect of the US government acquiring Bitcoin at a "sizable" scale after meetings with crypto industry leaders.
Why it matters: With Bitcoin briefly topping $79,000 and miners like Canaan gaining 25%+ in a single session, the rally is riding two simultaneous channels — Treasury-market liquidity from expanded bond buybacks and a White House actively pushing for clearer crypto rules and potential federal Bitcoin purchases. Treasury companies such as Strive and Metaplanet benefit most directly, but Coinbase and Robinhood's double-digit moves show the gains are bleeding into mainstream brokerage platforms.
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