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Bitcoin Kicks Off 'Uptober' With Break Above $116K as Crypto Equities Surge Pre-Market

Bitcoin and ether rally on the first day of October alongside record gold prices, boosting pre-market gains for U.S. crypto stocks.

By James Van Straten, AI Boost|Edited by Oliver Knight
Oct 1, 2025, 9:04 a.m.
Bitcoin surges through $116,000. (Midjourney/Modified by CoinDesk)
Bitcoin surges through $116,000. (Midjourney/Modified by CoinDesk)

What to know:

  • Bitcoin hits $116,600, up 2% in 24 hours, while ether jumps 4% to $4,287.
  • Crypto-linked equities rally pre-market: Strive up 25%, MSTR +2%, Bitfarms +3%, NAKA +7%.

The much-anticipated "Uptober" has arrived, and the momentum is already building on the very first day of the month.

Bitcoin has broken through the $116,000 mark, climbing 2% in the past 24 hours and briefly reaching as high as $116,600. The rally is unfolding against a backdrop of a U.S. government shutdown and record-setting strength in gold, which is trading near $3,900.

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Ether ETH$1,995.57 is following suit, jumping nearly 4% in the same 24-hour period to trade at $4,287.

The surge in bitcoin during the European session has spilled over into U.S. crypto equities, fueling sharp pre-market activity. Strive (ASST) is the standout winner, soaring 25% to $3.15. Strategy (MSTR), widely seen as a leveraged bitcoin play, is up more than 2% at $328 per share. Bitfarms (BITF) has added 3% in pre-market trading to $2.91, while Kindly MD (NAKA) is up 7%.

MicroStrategyBitcoin NewsEther
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Michael Saylor's Strategy purchased $168 million in bitcoin last week

By Stephen Alpher
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Michael Saylor, Executive Chairman of Strategy (MSTR)

The company's stack is now 717,131 bitcoin acquired for $54.52 billion, or $76,027 per coin. Bitcoin's current price is $68,000.

What to know:

  • Strategy (MSTR) added 2,486 bitcoin for $168.4 million in the last week.
  • The company's holdings now foot to 717,131 BTC acquired for $54.52 billion, or $76,027 per coin — substantially below the current price of $68,000.
  • Last week's buys were funded via common stock sales and the sale of the STRC preferred series.
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