US-listed crypto companies rose Wednesday as Bitcoin {{BTC}} climbed past $51,000 for the first time since December 2021, taking its market cap to $1 trillion.
Bitcoin, the largest cryptocurrency by market value, added about 2.9% in the last 24 hours, while the CoinDesk 20 Index, a measure of the largest digital assets, rose around 2.1%. Ether {{ETH}}, the second-largest cryptocurrency, gained 3.2% to $2,754, the highest since May 2022, while the total crypto market cap touched $2 trillion for the first time since April that year.
Cryptocurrency exchange Coinbase (COIN) rose more than 7%, and software company MicroStrategy (MSTR), which holds around 190,000 BTC on its balance sheet, gained about 6.5%. BlackRock’s bitcoin exchange-traded fund (IBIT), which has the highest inflows among the new spot BTC ETFs, added around 3%.
Robinhood (HOOD), a trading platform that supports cryptocurrencies, climbed 12% after reporting higher-than-forecast fourth-quarter revenue and saying crypto revenue rose 10% from a year earlier to $43 million.
Iris Energy (IREN) led gains among miners, surging 14%. Marathon Digital (MARA) added 11% and Riot Platforms (RIOT) 8%.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
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