MicroStrategy , which trades as a proxy for the price of bitcoin, surged 20%, while Coinbase advanced 9%.
The mining sector got a lift from bitcoin, too, with Marathon Digital and Riot Platforms up 4% and 9%, respectively.
Bitcoin had been in correction mode for the past week, after it hit an all-time high of $73,797.68 on March 14.
Sam Callahan, lead analyst at bitcoin services firm Swan Bitcoin, said it's likely tied to the messaging coming from the Federal Reserve last week.
Despite its pullbacks, bitcoin is on pace to finish March on a winning note.
Persons:
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Organizations:
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