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Crypto: Crypto companies and funds rally as bitcoin rise, Dow jumps 700 points

Major crypto-related stocks and funds rallied Tuesday as bitcoin climbed 3%, and the Dow Jones Industrial Average
DJIA,
+2.23%

jumped more than 700 points.

The largest cryptocurrency
BTCUSD,
+2.71%

is trading at around $20,089, according to CoinDesk data. The Dow
DJIA,
+2.23%

rose 2.4% to 30,204, and the S&P 500
SPX,
+2.77%

gained 2.7% to 3,778, according to FactSet data. The Nasdaq Composite went up 3% to 11,153.

Stock indexes extended the Monday gains amid hopes that global central banks may slow down their interest rate hiking plans.

See: If Powell “gives up this fight, you’re going to see Bitcoin and other assets take right back off,” said Galaxy Digital CEO Michael Novogratz

Following such leads, Coinbase Global Inc.
COIN,
+10.14%

shares on Tuesday surged almost 10% to around $72.32, and Michael Saylor’s MicroStrategy Inc.
MSTR,
+6.30%

 shares advanced 8.9% to $244.04.

Shares of mining company Riot Blockchain Inc.
RIOT,
+5.01%

 shares added 7.4% to $7.69, and that of Marathon Digital Holdings Inc.
MARA,
+13.13%

rallied 15% to $12.65. Another miner, Ebang International Holdings Inc.
EBON,
+2.67%

 gained 5% to $0.44.

Overstock.com Inc.
OSTK,
+6.12%

 shares rose 5.5% to $26.85. Shares of Block Inc
SQ,
+12.07%
,
 formerly known as Square, increased 8.8% to $60.68.

Tesla Inc.
TSLA,
+5.42%

 advanced 4.7% to $253.40, and PayPal Holdings Inc.
PYPL,
+5.49%

jumped 4.2% to $91.37. Nvidia Corp.
NVDA,
+4.89%

 shares rose 4.3% to $130.47.

Advanced Micro Devices Inc.
AMD,
+3.59%

 shares hiked 4% to $68.71.

Among crypto funds, ProShares Bitcoin Strategy ETF
BITO,
+3.07%

went up 3.2% to $12.45 Thursday, while its Short Bitcoin Strategy ETF
BITI,
-3.39%

 lost 3.2% to $36.87.

Valkyrie Bitcoin Strategy ETF
BTF,
+3.32%

 traded 3.1% higher at around $7.75, and VanEck Bitcoin Strategy ETF
XBTF,
+3.49%

climbed 3.7% to $19.79.

Grayscale Bitcoin Trust
GBTC,
+3.60%

 posted a 4.5% gain to $12.19.

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