Crypto Stocks Rip Higher as Strategy Jumps 12%, Coinbase Climbs 9%

BREAKING: Crypto stocks rip higher as Bitcoin's short squeeze drives toward $70K, with $MSTR jumping 12%, $COIN up 9%, $CRCL up 9.4%, and $BMNR gaining nearly 10%.

Strategy just jumped twelve percent in a single session.

Coinbase climbed nine to one fifty nine, Circle added nine and a half, and BitMine gained almost ten. All of it riding Bitcoin's push toward seventy thousand, and all of it in one afternoon. Michael Saylor's company led the whole pack, closing at one hundred three dollars and change.

Now here's the part I love. Strategy and Coinbase are two of the most shorted large caps on Wall Street. So this isn't just crypto bulls celebrating. It's bears getting carried out on stretchers, twice. Once on the Bitcoin squeeze, once on the equity squeeze stacked on top of it.

When the most hated stocks on the street rally double digits in a day, somebody's risk desk is having a very long evening. Bitcoin sits at sixty eight thousand four hundred as I speak, and every short left standing knows exactly what number comes next.

This is Sara White, reporting for HIT.

Source Read the original reporting at decrypt.co