Bitcoin’s Price Spike Has Sparked a Big Revival in Crypto Stocks
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The newly bullish tone for Bitcoin prices has fed through to crypto-related companies’ shares.
The largest cryptocurrency continued its unexpected march higher this week, surging to as high as $5,316 in late U.S. trading before paring back some gains by Asia hours Thursday. The Bloomberg Galaxy Crypto Index, which tracks a basket of the largest digital tokens, has rallied as much as 28 percent this week, on track for a fifth straight weekly gain after months of relative inactivity.