Golden Finance reported that in today’s US stock market trading, the market showed a positive start, with all three major indices opening higher. As of the opening, the Dow Jones Industrial Average rose slightly by 0.05%, the Nasdaq Composite Index increased by 0.23%, and the S&P 500 Index also rose by 0.13%.
It is worth noting that the strong performance of the cryptocurrency market has had a significant driving effect on related concept stocks. The price of Bitcoin has soared, successfully reaching a high of $107,000 and once again setting a new historical record. As a result, the Bitcoin-related concept stocks in the US stock market performed strongly. Among them, Circle performed particularly well, with its share price increasing by more than 23%. As the issuer of USDC, the world’s second-largest stablecoin pegged to the US dollar, Circle was listed on the New York Stock Exchange on June 5th, Eastern Time, with the stock code “CRCL” and an offering price of $31 per share. On its first day of trading, Circle’s stock price performed exceptionally well, opening up 122.58%, with the intraday high increase exceeding 234%, and closing up nearly 170%. Its total market value reached 18.09 billion US dollars. The continuous rise in its stock price since then also reflects the market’s continued optimism about its development prospects.
The share price of Strategy also rose accordingly, increasing by more than 1%. Strategy Corporation (MSTR.US), led by Michael Saylor, has been active in the cryptocurrency market. Previously, the company raised over 700 million US dollars by selling sustainable preferred shares to purchase approximately 584 million US dollars worth of Bitcoin. Its continuous increase in Bitcoin holdings has driven a rebound in Bitcoin prices and also enabled its own stock price to perform well under the impetus of Bitcoin’s price recovery. Since March, its stock price has risen by nearly 30% driven by Bitcoin’s rebound. It significantly outperformed the S&P 500 index.
The continuous rise in the price of Bitcoin reflects the strong market demand for decentralized digital currencies. The increase in global economic uncertainty and the numerous challenges faced by the traditional financial system have prompted an increasing number of investors and institutions to shift their funds to the digital currency sector such as Bitcoin. Bitcoin, as “digital gold”, features decentralization, high security and strong liquidity, attracting a large amount of safe-haven funds to flow in. Meanwhile, its application scenarios in payment and asset allocation have gradually expanded, further enhancing the market’s recognition of its value.
For the US stock market, the three major indices all opened higher. Besides the support from cryptocurrency-related concept stocks, it is also related to factors such as the performance of US economic data and market expectations for the Federal Reserve’s monetary policy. Recently, some economic data released by the United States have been positive, enhancing investor confidence. The market’s expectations of the future monetary policy direction of the Federal Reserve also influence the flow of funds and the market’s risk appetite to a certain extent. However, there are still many uncertainties in the market trend. Investors need to closely monitor changes in economic data, adjustments in the Federal Reserve’s monetary policy, and fluctuations in the cryptocurrency market, and make investment decisions with caution.
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