Stocks linked to cryptocurrencies Bitcoin and Ethereum soar

Shares of several cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA), Riot Platforms Inc (NASDAQ:RIOT) and MicroStrategy Inc (NASDAQ:MSTR) are trading higher on Tuesday after Bitcoin (CRYPTO: crossed the $30,000 mark for the first time since June 2022.

Bitcoin, the largest cryptocurrency by market cap, was last up 6.47% over a 24-hour period at $30,125, adding to its rally in 2023 where $28,200 marked a strong resistance point from a technical perspective and some bulls are now calling for a continued move towards the $36,000 level.

Bitcoin is now up over 80% year-to-date and several other cryptocurrencies are moving with it. Ethereum (CRYPTO:ETH) is up 3.27% over a 24-hour period to $1,916.26 and Dogecoin (CRYPTO:DOGE) advanced 2.75% to $0.08517 last checked.

Several Bitcoin miners also rose along with the Bitcoin price, including Marathon Digital, which engages in digital asset mining. The company owns mining machines and a data center for digital assets. It was last up 3.74% at $9.44, according to Benzinga Pro.

Riot Blockchain focuses on building, supporting and operating blockchain technologies. The stock had risen 3.88% to $10.99 when last checked.

MicroStrategy is a business intelligence, mobile software and cloud-based services company, but it is mostly a Bitcoin bet, as the firm owns approximately 140,000 Bitcoin. These shares gained 2.96% to $322.05 at last check.

Bitcoin cryptocurrency price movement.

The Bitcoin cryptocurrency has risen 22% in the last month and more than 70% in a three-month period. Despite being up over 80% so far this year, it is still down approximately 23% in the last year.

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