Bitcoin’s Surge Splits Crypto Stocks: Strategy and Galaxy Rise, While Coinbase Slips

Bitcoin’s Record Run Sparks Mixed Moves in Crypto Stocks

11/7/2025

Bitcoin’s surge to new record highs has left crypto-related equities divided, with some stocks rallying alongside the digital asset and others pulling back despite the broader bullish sentiment.

The world’s largest cryptocurrency by market cap rose more than 4% on Thursday, edging closer to the $118,000 mark. As of the latest trading, BTC was priced around $117,700, up 5.78% over the past 24 hours.


Winners Among Crypto Stocks

Strategy (MSTR), known for holding the largest bitcoin reserve among publicly listed companies, advanced 3.2%. Galaxy Digital (GLXY), which offers institutional crypto trading services, gained 4%.

In Asia and Europe, companies adopting bitcoin treasury strategies also saw gains. Japan’s Metplanet (3350) climbed 2.9%, while The Blockchain Group (ALTBG) rose 9.3% in Paris. Both firms have mirrored Strategy’s approach by acquiring bitcoin for their corporate treasuries.

Bitcoin miners enjoyed solid momentum as well. MARA Holdings (MARA) rose 3.2%, Hive Digital (HIVE) added 2.1%, and Riot Platforms (RIOT) gained 1.5%. Higher BTC prices improve the economics of mining by boosting the value of mined coins.


Decliners in the Crypto Sector

Not all miners shared in the rally. Cipher Mining (CIFR) fell 2.5%, while Bit Digital (BTBT) declined 1%.

Elsewhere in the sector, crypto exchange Coinbase (COIN) slipped 1.6%. Circle Internet (CRCL), the issuer of the USDC stablecoin, dropped 7%, although it remains well above its IPO price, still trading at $204.80 per share—over six times its debut level of $31 just a month ago.

Meanwhile, Cantor Equity Partners (CEP), which is transitioning into a publicly listed bitcoin investment firm under the name Twenty One Capital, continued its strong performance, climbing 8.2% after closing Thursday’s session with a 9% gain.


Takeaway: Bitcoin’s record highs are fueling selective gains in crypto stocks, with miners and bitcoin-holding firms seeing upside while certain exchanges and stablecoin issuers face headwinds. Investors are watching closely to see whether BTC’s momentum continues to lift the entire crypto equity space—or leaves some names behind.


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