MicroStrategy, Coinbase pop on bitcoin rally

Bitcoin (BTC-USD) surged above $70,000 on Monday. The cryptocurrency's rise also led to pop for bitcoin-related stocks such as Coinbase (COIN) and MicroStrategy (MSTR).

Yahoo Finance's Akiko Fujita and Josh Lipton discuss the move in the video above.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Stephanie Mikulich.

Video transcript

AKIKO FUJITA: Taking a look at the crypto space. Bitcoin prices jumping above 70,000 as a crypto steers back into rally mode. The move higher also lifting Bitcoin linked stocks MicroStrategy and Coinbase as well. Not necessarily news tied to this move that we're seeing today but you see MicroStrategy and Coinbase getting a very healthy bump on the back of this.

JOSH LIPTON: Remember last week, the story was-- we were talking so much about was-- money getting yanked out of those new shiny spot Bitcoin ETFs. Which of course, have been a big reason Bitcoin has rallied the way it has. And today it looks like investors are willing to look past that give that a shrug. And of course, you're looking ahead, we do have this so-called Bitcoin halving coming in April. And we've had Bulls on the show saying, hey, maybe that could be another catalyst.

AKIKO FUJITA: Yeah. Some pretty bold calls out there coming on the back of that as well. But you know what's been interesting Josh, is that so many people we've been talking to about Bitcoin say this rally is a much healthier one because there was that shakedown that came down after the big rally that we saw back in November of 2021. So we'll see if this continues to hold but we're looking at what-- can we see that again. Was it 70,000?

JOSH LIPTON: It had gone over 70,000.

AKIKO FUJITA: Its 70,000.

JOSH LIPTON: Yeah, for sure. Over 70,000 I think that was the first time. It was more than a week.

JOSH LIPTON: Despite those calls for $100,000 to get louder.