Cryptocurrency-linked shares have surged in April, buoyed by a sharp rise in Bitcoin prices, defying the broader downturn in US equity markets.
As Bitcoin gains momentum, key crypto firms are reaping the benefits, significantly outperforming the tech sector and traditional indices.
Leading the charge are Michael Saylor’s MicroStrategy, crypto exchange giant Coinbase Global Inc., and mining outfit CleanSpark Inc. All three have posted robust double-digit gains, even as the S&P 500 Index slid by 2.5% this month.
Bitcoin Resurgence Reinforces ‘Digital Gold’ Status
Bitcoin has risen by 14% over the past 30 days, driven largely by renewed investor confidence in its role as ‘digital gold’.
Amid ongoing economic uncertainty and global geopolitical tensions, Bitcoin is increasingly being viewed as a reliable store of value—similar to, and in some cases more resilient than, physical gold.
While some scepticism remains around this thesis, mounting data suggests Bitcoin may outperform gold during times of crisis.
A 2023 report from BlackRock titled “Bitcoin As a Unique Diversifier” analysed six major economic shocks between 2020 and 2024—including the COVID-19 pandemic and the war in Ukraine—and found that Bitcoin outperformed gold in five of the six scenarios over the long term, and in half of them across both the short and long terms.
This growing confidence in Bitcoin’s safe-haven appeal is influencing investor behaviour, particularly as concerns around tariffs and trade tensions re-emerge.
Institutional Momentum Behind Bitcoin ETFs
Another major catalyst for Bitcoin’s April rally is the wave of institutional adoption that has accelerated over the past 18 months, following the 2024 launch of spot Bitcoin exchange-traded funds (ETFs).
These ETFs have now attracted more than $100 billion in investment, offering a convenient route for exposure to Bitcoin.
Described by analysts as one of Wall Street’s most successful financial product launches in recent decades, the ETFs have seen a progression of participants—from hedge funds and investment banks to major pension funds. Sovereign wealth funds are now rumoured to be the next major entrants.
US Strategic Shift Elevates Bitcoin’s Status
In addition to private-sector momentum, political support is further propelling Bitcoin’s rise. President Donald Trump, who returned to office on a pro-crypto platform, has introduced several policies aimed at integrating Bitcoin into the US financial system.
Notably, March saw the announcement of the Strategic Bitcoin Reserve, officially classifying Bitcoin as a national strategic asset—an unprecedented move signalling institutional endorsement at the highest level of government.
As both public and private institutions increasingly embrace cryptocurrency, Bitcoin and related stocks are demonstrating resilience and growth in an otherwise turbulent financial landscape.
