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Cryptocurrency stocks rose significantly on Thursday despite rising stock prices. Bitcoin It surpassed $100,000 for the first time overnight.
micro strategy After surging more than 7% the day before, the stock fell into negative territory, down about 1%. riot platform After rising more than 5%, it fell 1%. Mara Holdings Most of the gains were wiped out to trade near the flatline. meanwhile, robinhood market 1% decrease; coinbase global It rose just 1% after rising more than 5% earlier.
MicroStrategy has become a Bitcoin agent as it has been buying Bitcoin in recent years, leading to an increase in its stock price. The stock has increased more than 2,700% since 2020, when the company first started buying Bitcoin.
Coinbase operates a cryptocurrency exchange platform and is also closely associated with Bitcoin. Online brokerage firm Robinhood allows traders to trade Bitcoin and several other cryptocurrencies on its app. Meanwhile, Mara Holdings and Riot Platforms are both focused on Bitcoin mining and digital infrastructure.
MSTR for 2020 and beyond
Year-to-date, MicroStrategy has soared 597%. Robinhood is up over 216% and Coinbase is up over 97%. Mara Holdings lagged the group with a 17% gain.
Investors became bullish on Bitcoin after President-elect Donald Trump won the Nov. 5 election on expectations of a loosening of the regulatory environment.
Traders are also pouring money into leveraged microstrategy ETFs, according to a research note published by JPMorgan on Wednesday. Leveraged exchange-traded funds can amplify the return potential of the underlying index by holding debt. As a result, it is also considered a high-risk investment fund.
“Inflows to leveraged microstrategy ETFs accounted for almost a third of the record $11 billion inflows into crypto funds overall in November,” strategist Nikolaos Panigirtzoglou said in a note. ”, he said.
