Bitcoin's surge above $77,000 triggered sharp gains across crypto-exposed equities, with MARA Holdings and Strategy among the biggest beneficiaries. MARA closed 15.54% higher at $11.15 on Thursday after Bitcoin broke back above $72,000, then extended gains as Bitcoin climbed toward $77,000. The move came after President Donald Trump hosted a White House crypto summit and renewed pressure on Congress to pass the Clarity Act, which would divide oversight between the SEC and the CFTC.
The Clarity Act remains stalled in the Senate, with a procedural vote expected on September 15. Analysts view passage as positive for bitcoin miners and corporate treasury holders. MARA holds 35,577 BTC, making it a leveraged proxy for Bitcoin's price. Its Q2 results showed a net loss of $609.7 million, including a $343 million digital asset fair value loss. CEO Fred Thiel also outlined expansion into AI infrastructure and digital energy.
Strategy returned to profit on its 840,447 BTC position. Built at an average cost of about $75,400 per bitcoin and a total cost of $63.36 billion, the stash was worth about $65.5 billion after Bitcoin passed $77,000. MSTR shares rose more than 11% in pre-market trading to about $126 from a $112.339 close. The rally followed the U.S. Treasury's decision to more than double long-dated bond buybacks from $2 billion to $4 billion, a weaker dollar, and heavy short liquidations totaling about $3 billion. Standard Chartered's Geoffrey Kendrick reiterated a $100,000 year-end bitcoin target.
