Bitcoin rallied on Thursday, climbing to $81,282 in early New York trading, a nearly 3% increase over 24 hours. The move extended gains that have accumulated over recent weeks, with the cryptocurrency up more than 23% over the past 30 days.
Shares of bitcoin-focused and crypto-related companies outpaced the cryptocurrency's advance. Microstrategy (NASDAQ: MSTR), which resumed bitcoin purchases on Monday after a 10-week pause, rose more than 13%. Coinbase (NASDAQ: COIN), the largest U.S. crypto exchange, climbed 11%.
Bitcoin mining stocks also gained ground. HIVE Digital led with a 13% jump, while MARA Holdings advanced more than 10%. CleanSpark, a clean energy bitcoin miner, rose 9%, and IREN, which is transitioning away from mining toward AI computing, gained 4%.
What Drove the Rally
The recent momentum stems from several developments. In August, the U.S. Treasury Department announced it would more than double the size of its government debt repurchases, a move intended to manage elevated bond yields. The policy shift weakened the dollar while benefiting non-yielding assets including bitcoin and gold.
Following the Treasury announcement, President Donald Trump called on lawmakers to advance long-stalled crypto legislation, specifically urging passage of the Crypto Clarity Act.
The combination of these factors prompted investor flows into bitcoin exchange-traded funds, which attracted over $2.8 billion in the period—the highest inflow since October, when bitcoin reached an all-time high of $126,080.
Price Context
Bitcoin spent much of the year trading below $80,000, with June and July hovering mostly below $65,000. At current levels near $82,000, the cryptocurrency remains approximately 40% below its October record.
