KEY TAKEAWAYS

• Bitcoin surged to its highest level in months, recently trading near $78,000.

• Cryptocurrency-related stocks, including Coinbase and MicroStrategy, also saw significant gains.

Cryptocurrencies and related stocks surged, extending their recent rally, as the price of bitcoin came as close to $80,000 as it has in months.

The price of bitcoin rose for a third straight day, recently trading near $78,000 after climbing above $79,000, its highest level in three months, overnight. The cryptocurrency has gained some 20% this week, putting it on pace for its best week in years.  …