Crypto stocks rally even as Bitcoin cools from new highs

By: thestreet|2025/05/14 00:15:05

Bitcoin 's price has tanked slightly from Monday, when it briefly hit $105,000 after the United States announced a 90-day tariff pause with China. As of Tuesday at 11 AM ET, Bitcoin has been trading at $103,260.98, down 0.20% over the last 24 hours, as per Kraken . However, with even a small red, equity investors still rushed into crypto-linked companies, with almost all stocks in green. Coinbase led the charge with a 15.77% rally, closing at $239.90. This follows news that it is being added to the S&P 500, which has been a key factor leading to inflows from passive funds and increased institutional interest in its stock. Robinhood also rallied 6.20% to $60.99, likely due to optimism surrounding its crypto products and stronger-than-expected earnings. Other crypto-linked equities also reported gains. For instance, MicroStrategy, commonly viewed as a proxy for Bitcoin , given its extensive holdings, gained 0.35% to $406.30. Mining companies reported sustained growth as well. Core Scientific was up 1.03%, Bitfarms was up 1.3%, Marathon Digital Holdings (MARA) was up 0.33%, and Riot Platforms added 0.25%. Another digital asset mining company, Hut 8 Corp, has also seen inflows, with its price sitting at 15.86, up by over 2.22% in 24 hours. Healthcare company Kindly MD (KDLY) Inc is trading at $10.21, down by over 25.42% in just a day. Two days earlier, KDLY stocks surged over 600% after it adopted Bitcoin as part of its strategy with Nakamoto, a Bitcoin treasury company.

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