Crypto-asset related stocks also rise ── Bitcoin is the highest price in 10 months | coindesk JAPAN | Coindesk Japan

Bitcoin (BTC) surged more than 4% today, surpassing $29,200 for the first time since June 10, 2022, prompting Marathon Digital, Coinbase, Micro Crypto asset-related stocks such as Strategy (MicroStrategy) rose sharply.

Marathon Digital also rose 12%, alongside fellow bitcoin mining firms Riot Platforms and Hut 8 Mining, which rose 13% and 10%, respectively.

Cryptocurrency trading giant Coinbase rose 5.5%, while MicroStrategy, which holds 140,000 BTC, rose more than 6%.

For about 10 days before the rally, Bitcoin was in a tight range in the $28,000 range. There is no clear cause for Monday’s surge.

On the 12th, the US consumer price index (CPI) for March will be released. It’s one of the key economic data points ahead of the Federal Open Market Committee (FOMC) meeting in early May. Many market players predict that the US Federal Reserve (Fed) may end more than a year of rate hikes at the FOMC meeting in May.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Shutterstock
｜Original: Crypto-Related Stocks Surge as Bitcoin Price Hits Highest Point Since June 2022