Key Highlights:

• Bitcoin maintained a value just above $118,000 after a record surge, positively influencing U.S. equity markets in early trading.
• The Strategy stock saw a rise over 3%, while Hive Digital spiked 7%.
• Across the ocean, The Blockchain Group (ALTBG) gained 12%.

Bitcoin’s rise to new heights has created a mixed response among crypto stocks. The world’s premier cryptocurrency recorded a spike of over 5% recently, trading at $117,700 after a 24-hour surge.

Bitcoin Rise

Investments and Market Reactions:
Strategy (MSTR), the company with the largest Bitcoin reserves in the public market, rose by 3.2%. Galaxy Digital (GLXY), which provides extensive crypto trading services, climbed 4%. In Japan, Metplanet (3350), following a similar strategy of accumulating Bitcoin, saw a positive change of 2.9%, while The Blockchain Group (ALTBG) rose 9.3% in Paris.

Bitcoin miners are also experiencing bumps in stock prices, with MARA Holdings (MARA) increasing by 3.2% and Hive Digital (HIVE) up by 2.1%. A higher Bitcoin price translates into greater value for the BTC produced by these miners.

Nonetheless, not all is well; some mining companies like Cipher Mining (CIFR) faced a drop of 2.5% and Bit Digital (BTBT) saw a decline of 1%.

Moreover, Coinbase (COIN) recorded a downturn of 1.6%, and Circle Internet (CRCL), the issuer of the USDC stablecoin, witnessed a 7% fall. Despite the slump, Circle’s shares are still valued more than six times higher than their IPO price from just a month prior.

Cantor Equity Partners (CEP) has seen an increase of 8.2% after climbing 9% in a session on Thursday.

Update (July 11, 15:26 UTC): Prices updated throughout the article.