Bitcoin’s Wild Ride: Galaxy, Circle, Bitfarms Soar While Metaplanet & Nakamoto Plunge!

by

Markets

What to know:

  • Crypto-related stocks Galaxy Digital, Circle Internet, and Bitfarms climbed more than 10% on Thursday. 🎉
  • Bitcoin treasury plays Metaplanet and Nakamoto slid by up to 14% even as BTC advanced. Oops! 😬

Ah, the crypto world-always keeping us on our toes! On Thursday, the ever-volatile crypto-related stocks took a thrilling ride. The magnificent Galaxy Digital (GLXY), Circle Internet (CRCL), and Bitfarms (BITF) all climbed over 10% in what seems to be a delightful party for digital currencies. 💃🕺

First, we have the darling of the moment, Galaxy Digital, a digital asset investment and data center conglomerate led by Mike Novogratz. It added 12%, likely due to its lead role in Forward Industries’ $1.65 billion fundraising. I mean, who doesn’t love a little investment money flowing in? 💸💸

And what’s this? The rising demand for data center plays, thanks to big tech firms making billion-dollar AI hosting deals (looking at you, Microsoft and Nebius)? A perfect recipe for Galaxy’s success. 🍰

Bitfarms (BITF), the ever-adventurous bitcoin miner, also saw an 18% boost, marking a total gain of over 60% this week. They even appointed Wayne Duso from Amazon Web Services to their board. Move over, Bezos! 🏃‍♂️💨

Circle Internet, the USDC stablecoin issuer, experienced a 16% rally-was it a rebound or just a technical hiccup? Who knows! But it broke the downtrend that started in June, so let’s toast to that. 🍷

Meanwhile, the likes of Coinbase (COIN), Robinhood (HOOD), MARA Digital (MARA), and Riot Platforms (RIOT) all made gains, easily outpacing the broader market. The S&P 500 index climbed a modest 0.82%, and the Nasdaq 100 rose 0.69%. Not bad for a day’s work! 📈

But hold your horses-enter Metaplanet (3355) and Nakamoto (NAKA), the less fortunate bitcoin treasury vehicles. While everyone else was partying, these two plunged by 10% and 14%, respectively. It’s almost like they were the designated drivers at this crypto shindig. 🚗💨

The irony? This all happened as Bitcoin surged toward $115,000, shaking off an initial dip due to rising CPI inflation and higher jobless claims. Looks like even crypto has its ups and downs, just like any soap opera. 🎭

Read More

2025-09-11 18:56