Why Circle Internet Stock Soared Today
Shares of Circle Internet Group (NYSE: CRCL) jumped today, finishing the day up 9.3%, but were up as much as 10.4% earlier in the day. The spike came as the S 500 and Nasdaq Composite rose modestly.
A wave of positive sentiment within the world of crypto helped lift Circle stock just a month after its initial public offering.
Bitcoin raced past the $120,000 mark for the first time ever as lawmakers in Washington kicked off "Crypto Week." The U.S. House of Representatives will deliberate on several crypto bills that, if passed, will create a much clearer regulatory framework for crypto, especially in regard to the use of stablecoins by banks and other institutions. Circle, which issues one of the most popular stablecoins on the market, USDC, would benefit greatly from their passing.
Source Fool.com
