A Rally With Two Engines
Shares of Strategy Inc., Coinbase Global Inc., Circle Internet Group Inc. and Galaxy Digital Inc. each gained at least 5% in intraday trading Thursday. The advance followed Wednesday’s gains.
Two things are driving the move. First, Trump met with top crypto executives and asked lawmakers to pass digital-asset market laws. He also said the CFTC is working to get Hyperliquid into the US.
Second, Treasury Secretary Scott Bessent is trying to lower Treasury yields by increasing purchases of longer-dated debt. This reduces the dollar’s strength, and a softer dollar tends to lift Bitcoin by sparking concerns about currency devaluation. When the dollar falls, assets priced in dollars, like Bitcoin, often rise.
