Why did Strategy shares rise?

Strategy rose 11.95% to $103.58 as Bitcoin (CRYPTO:BTC) approached $70,000 and short sellers covered positions.

What happened to Coinbase shares?

Coinbase gained 9.05% to $159.47 as crypto-linked stocks rose alongside Bitcoin (CRYPTO:BTC).

Circle rose 9.44% to $78.50 as Bitcoin (CRYPTO:BTC) moved towards $70,000.

Bitcoin (CRYPTO:BTC) moved towards $70,000 in a short squeeze that liquidated more than $1 billion in bearish positions within one hour.

Strategy held 840,447 Bitcoin (CRYPTO:BTC) and $4.8 billion in cash in its latest weekly filing.

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Written by Heidi Cuthbert Published Aug 20, 2026, 12:39 AM

Strategy rose 11.95% to $103.58 as Bitcoin approached $70,000.
Coinbase gained 9.05% to $159.47, while Circle and BitMine also climbed.
The gains followed a Bitcoin short squeeze that liquidated more than $1 billion in bearish bets.

Strategy led crypto-linked stocks higher, rising 11.95% to $103.58 as Bitcoin (CRYPTO:BTC) approached $70,000.

Coinbase gained 9.05% to $159.47, while Circle rose 9.44% to $78.50.

BitMine added 9.68% to $20.05 as the four crypto-linked stocks followed Bitcoin's move higher.

Bitcoin's rise towards $70,000 liquidated more than $1 billion in bearish crypto positions within one hour.

Strategy's share price was up 11.95% at $103.58, after reaching an intraday high of $106.90.

Strategy held 840,447 Bitcoin and $4.8 billion in cash in its latest weekly filing, according to Decrypt.

BitMine held 5.82 million Ethereum (CRYPTO:ETH) tokens worth about $11.4 billion, while Coinbase and Circle remain linked to broader crypto activity.

At the time of reporting, Bitcoin price was $69,638.78.