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Bitcoin’s Gains Boost Crypto Stocks

Bitcoin bulls got a reprieve late Sunday as the cryptocurrency briefly rose above $50,000 for the first time in three months. While Bitcoin began rising from its recent trough of below $30,000 in July, two recent events helped to  push it above the $50,000 mark. Last week, Coinbase (ticker: COIN), the cryptocurrency exchange platform, said it would buy $500 million of crypto assets and that it plans to allocate 10% of its profits into a crypto portfolio.

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