Crypto stocks rise after bitcoin hits three-week high
** Shares of U.S. cryptocurrency- and blockchain-related companies rise premarket tracking gains in bitcoin
** Bitcoin BTC=, world's biggest cryptocurrency, jumps 3% to its highest since Aug. 27; Ether ETH= also gains 4.8%
** Cryptocurrencies advance after Federal Reserve's 50-basis points interest rate cut, its first policy reduction in four years
** Crypto exchange Coinbase Global COIN.O jump 4.1%, U.S.-listed shares of bitcoin mining company Bitfarms BITF.O up 5.1%, and bitcoin developer Microstrategy MSTR.O edge higher at 4.3%
** Riot Platforms RIOT.O gains 4.3%, U.S.-listed shares of Hut 8 Mining HUT.O up 5.4%, Marathon Digital MARA.O up 4.6%
** Proshares Bitcoin Strategy ETF BITO.P and Ishares Bitcoin Trust IBIT.O up 3.6% each
** A bigger reduction in rate cut could support rate-sensitive assets such as cryptocurrencies
Reporting by Nikhil Sharma in Bengaluru
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