Crypto Stocks Gain After Bitcoin Rises 3%

Tiger Newspress06-25

Crypto stocks rallied in morning trading Tuesday as Bitcoin rose 3% recover $62,000. Bit Digital rose 25%; Bitfarms rose 8%; MicroStrategy rose 7%; Bitcoin Depot rose 6%; Marathon Digital rose 5%; Coinbase and Riot Platforms rose 4%.

June hasn't been kind to bitcoin: The price of the cryptocurrency briefly slipped below the $60,000 level Monday after it looked like it could surpass the previous all-time high of more than $73,000 earlier in the month.

The most recent negative news for bitcoin comes in the form of a coming distribution of bitcoin owed to former customers of defunct bitcoin exchange Mt. Gox, which is estimated to involve as many as 140,000 bitcoin coming onto the market.

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