(Reuters) – Bitcoin rose strongly on Tuesday, on course to gain for a fifth straight day, in a rally that has left the cryptocurrency within touching distance of an all-time high hit last month.
Bitcoin has risen about 87% this year, broadly outperforming conventional asset classes, partly due to broader acceptance as a form of payment.
On Tuesday, bitcoin’s surge fueled gains in related stocks, sending shares of cryptocurrency miners Riot Blockchain Inc and Marathon Digital Holdings Inc soaring 28% and 22%, respectively.
Bitcoin bank Silvergate Capital Corp on Tuesday launched a $300 million program to sell shares, less than two months since it raised equity, while business intelligence software company MicroStrategy Inc recently issued notes in order to fund more bitcoin purchases.
(Reporting by Aaron Saldanha in Bengaluru; Editing by Shounak Dasgupta)