Stocks popular with investors bitcoin Since the launch of the highly anticipated spot cryptocurrency exchange-traded fund (ETF) in the United States, exposure has continued to decline as the prices of major cryptocurrencies have plummeted.
Stocks of major public companies holding Bitcoin, including MicroStrategy, Tesla, and Coinbase, have fallen significantly over the past month.
These stocks allow investors to get into the cryptocurrency game without actually purchasing the digital asset. However, since the emergence of Bitcoin, the largest and oldest digital coin, was beaten The same goes for cryptocurrency stocks this month.
MicroStrategy (NASDAQ: MSTR), currently the largest public holder of $7.5 billion worth of BTC with 189,150 coins, is trading at $450.99 per share, down 25% over the past month.
Meanwhile, the stock price of electric vehicle company Tesla (NASDAQ: TSLA) has fallen more than 19% and is trading at $207.83. Elon Musk’s tech company owns more than $386 million in BTC.
And Coinbase (NASDAQ: COIN), the largest cryptocurrency exchange in the United States, be revealed It has fallen further in 2021, falling 29% over the past month. COIN is currently trading at $121.34 per share.
Lots of stocks—especially mining stocks—When you are interested in the digital asset space, it usually performs as well or better than the cryptocurrency industry.
And with the price of Bitcoin falling so far in 2024, the largest Bitcoin-related stocks are not performing well. Canadian Bitcoin miner Hut, which trades on the Toronto Stock Exchange as HUT, is down more than 64% over the month.
And U.S. miner Riot Platforms (NASDAQ: RIOT) fell more than 41%, with its stock price just over $10. Miners are two of the largest publicly traded Bitcoin holders.
Bitcoin prices have plummeted so far this year. start Analysts are mixed on whether the launch of several Bitcoin ETFs, a long-awaited investment vehicle that allows investors to buy stocks that track the price of the cryptocurrency, will lead to a bull market.
However, it is too early to tell whether the flood of capital will push the price of BTC higher, but the asset is currently struggling. And as a result, it appears that cryptocurrency stocks will continue to fall.
Editor: Andrew Hayward
