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The actions of the enterprises expose the aux prix des crypto monnaies and à la dynamique des Marchés de la crypto ont augmente mardi après que bitcoin a depassé le niveau clé de 30,000 dollars, la 30,000 dollars of the son of the actualist Mercant in the summer.
Shares of Coinbase Global (stock code: COIN) rose 3% in premarket trading on Tuesday in the US, while Block (SQ) shares rose 1.2%. MicroStrategy (MSTR) was up 3.3%, while Riot Platforms (RIOT) and Marathon Digital (MARA) were up 4%. All five of these stocks posted the biggest gains in trading on Monday as bitcoin began a sharp rally. By comparison, S&P 500 futures rose 0.3% early Tuesday.
All of these companies are among the few stocks that trade without changing the price of bitcoin and digital assets in general. This is because companies either own cryptocurrencies or are affected by the dynamics of the digital asset market. Bitcoin is up 80% year to date, as are many of these stocks.
Coinbase is a cryptocurrency broker whose main activity is to facilitate the buying and selling of bitcoins and other tokens for a wide audience of retail investors. His profits are highly dependent on the cryptocurrency trading volume, which tends to rise and fall along with the price of bitcoin as retail traders enter the space on bullish waves. Coinbase shares are up 87% in 2023
Block, for its part, not only owns bitcoin, but Buy allows customers to buy and sell the biggest cryptocurrencies through its Cash App platform. But this year, the stock ban has been slightly delayed. Earn less than 6%. Stocks came under pressure last month following financial reports from a short seller, an investor who bets against stocks in yield pools.
Led by one of the most famous bitcoin bulls Michael Saylor as chairman of the board, MicroStrategy is a crypto whale in its own right. The company is one of the few holding large amounts of bitcoin in the corporate treasury, and has seen steady growth this year amid rising prices. Since the last disclosure on April 5, between March 24 and April 4, the company and its affiliates have purchased approximately 1,045 bitcoins for approximately $29.3 million in cash, bringing MicroStrategy's total assets to approximately $140,000. 3.9 billion dollars. MicroStrategy shares are up 120% this year.
As for Riot Platform and Marathon Digital, both companies are involved in bitcoin mining. His job is to use computers to solve complex cryptographic puzzles that secure the Bitcoin network and process transactions on the blockchain. Bitcoin miner stocks have been hit last year by lower prices, increased competition and higher energy costs that have made mining more expensive, but Riot stock is up 210% this year and Marathon is up 170%.
Email Jack Denton at jack.denton@barrons.com