Strategy, Coinbase, and other crypto-related stocks were climbing ahead of the open Wednesday as Bitcoin topped $95,000 for the first time since November.

Strategy, formerly known as MicroStrategy, is the largest corporate holder of Bitcoin and consistently moves in tandem with the cryptocurrency. The stock was pointing 2% higher at $176.66 in premarket trading, after jumping 6.6% in the previous session.

The shares are up 14% this year, as of Tuesday's close, while the world's largest crypto is up 8.5% in 2026.

The stock hit a 52-week high of $457.22 in July last year, when Bitcoin was trading at around $122,000, but it has fallen 62% since. The crypto is 25% off its record high of above $126,000 reached in October.

Strategy has had a sharper fall than Bitcoin as the premium of the company's enterprise value relative to its Bitcoin holdings has tumbled.

It is now valued at a 6% premium to its Bitcoin holdings, according to the company's metrics, down from around 100% in the summer.

The company has continued to build up its holdings in recent months, even as prices have dipped. It bought another 13,627 Bitcoin for $1.25 billion last week, taking its total to 687,410 billion Bitcoin -- worth more than $65 billion as of Wednesday's price.

Bitcoin's move back above $95,000 comes as the Senate Banking Committee is set to consider the long-awaited Digital Asset Market Clarity Act on Thursday. The legislation is designed to deliver regulatory clarity to protect investors.

The optimism was boosting other digital assets, including Ethereum and XRP. The sentiment spread to exchange platform Coinbase, which was 1% higher ahead of the open after a 4% jump Tuesday.

The rally is a good sign, but cryptocurrencies -- and Strategy stock -- have a long road back to the highs of last year.