Source: Maxx-Studio / Shutterstock.com
Crypto stocks are up on Friday as investors in the digital currencies celebrate Bitcoin (BTC-USD) climbing above $47,000 per token for the first time since March 2022.
Bitcoin is the premier name among cryptos as it demands a high price per token and has a large public recognition. That means that any changes in the price of BTC can have an effect on other cryptos, as well as the stocks tied to them.
In this case, crypto stocks are up today thanks to BTC regaining lost ground. Thar rally also has traders hoping that the token will be able to surpass its previous all-time high of more than $65,000 in 2021.
Sylvia Jablonski, CEO and Chief Investment Officer at Defiance ETFs, said the following about the Bitcoin rally to CNBC:
“The recent price appreciation of bitcoin could be attributed to recent inflows into the spot…
