Asian stocks tied to cryptocurrency markets surged on Friday after Bitcoin climbed to a three-month high above $75,000.
Bitcoin traded nearly 8% higher at $75,001.6 by 04:59 GMT, after reaching an intraday peak of $75,591.6. The cryptocurrency’s rebound followed a period of volatility and coincided with renewed optimism in risk assets globally.
Japanese bitcoin treasury firm Metaplanet Inc. (TYO:3350) led the advance, with shares jumping more than 20% to a three-month high. The company holds approximately 43,000 bitcoin, a position that has amplified its exposure to crypto price movements.
Hong Kong-listed Boyaa Interactive International (HK:0434) surged 17%, while Japan’s Remixpoint (TYO:3825) gained 4.5%. Monex Group (TYO:8698) added 2%, reflecting broad-based strength across crypto-linked equities in the region.
Ethereum also rose more than 4%, approaching its highest level since May. The gains extended across major crypto assets as sentiment improved following a U.S. Treasury decision to double long-duration bond buybacks, which bolstered appetite for risk.
U.S. political developments added to the positive backdrop. Former President Donald Trump this week urged Congress to pass a revised version of the Clarity Act, which seeks to clarify regulatory definitions for cryptocurrencies and delineate oversight between the SEC and CFTC.
The rally in crypto-linked equities underscores the sector’s sensitivity to Bitcoin’s price action and shifting regulatory expectations in the U.S.
