Crypto Stocks Bounce as Bitcoin Nears $65,000 After Iran Strike Pause

Yahoo Finance··Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Strategy, BitMine, and SharpLink shares rallied Monday as a reported pause in U.S. strikes on Iran triggered a broad relief rally that lifted Bitcoin back toward $65,000. Strategy stock rose 3% to $94.43, BitMine Immersion Technologies surged 7% to $17, and SharpLink Gaming gained 5% to $6.07, though all three remain deeply negative over the past year with declines of 78%, 62%, and 75% respectively. The bounce was led by Ethereum, which is up 24% over the past month versus Bitcoin's 9% gain, benefiting the two ETH-treasury names BitMine and SharpLink. Strategy confirmed no Bitcoin purchases for a fifth straight week, its longest pause in nearly two years, while sitting on $3.75 billion in cash and 843,775 Bitcoin at an average cost of $75,476. SharpLink's institutional ownership has climbed from 6% to 46%, and its non-binding memorandum of understanding with Galaxy Digital for a $125 million on-chain yield fund helped explain the outsized move.

Impact on assets 6

Digital Finance & Tokenization▲ · 4 stocks
Sharplink Gaming Ltd
SBET
▲ PositiveCapitalrelevance

SharpLink's institutional ownership climbed from 6% to 46% and it signed a non-binding MOU with Galaxy Digital for a $125M on-chain yield fund, driving outsized gains.

MicroStrategy Incorporated
MSTR
± MixedCapitalrelevance

Strategy confirmed no Bitcoin purchases for fifth straight week, longest pause in nearly two years; stock rose 3% on broader crypto rally but pause is neutral/negative.

Galaxy Digital Holdings Ltd
GLXY
± MixedCapitalrelevance

Galaxy Digital mentioned only as counterparty to SharpLink's non-binding MOU for a $125M on-chain yield fund; no direct impact on Galaxy.

Others▲ · 2 stocks
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