Bitcoin, US crypto stocks rise as more firms plan BTC buys
US crypto-linked stocks experienced gains alongside Bitcoin, which rose 4% to $110,150 on June 10, as several publicly traded companies announced additions to their Bitcoin reserves. Major crypto firms, including the top four US crypto miners, closed with slight gains, while stablecoin issuer Circle Internet Group's shares rose 7% and continued to gain after-hours. Other miners like Core Scientific and CleanSpark also showed positive movement. Bitcoin's increase comes amid easing market tensions with US-China trade talks. However, Robinhood Markets saw a decline after missing a potential S&P 500 addition, contrasting with the positive trends seen by competitors such as eToro and Coinbase. The buying trend is further highlighted by BitMine Immersion Technologies announcing its first purchase of 100 BTC, while KULR Technology reported a significant increase in its Bitcoin holdings. This year’s Bitcoin rally has motivated many public firms to buy the cryptocurrency in hopes of enhancing their share prices.
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