Coinbase, MicroStrategy stock prices rise as Bitcoin surges ahead of halving

Bitcoin (BTC) not the only asset big Today: Crypto stocks are also performing very well.

The largest cryptocurrency by market capitalization is rising to $72,000 after experiencing a lull last week. The current price is less than 3% off the all-time high of $73,737. according to On data from CoinGecko. We reached that level in March.

As a result, stocks of companies with exposure to the cryptocurrency industry rose. MicroStrategy (NASDAQ: MSTR), a self-described “Bitcoin development company,” is up more than 6% today, trading at $1,531.67 per share.

software company Actively investing BTC This year’s balance sheet has seen a significant increase in value this year. Since January, the stock has more than doubled, up more than 122%. Michael Saylor, the company’s co-founder and chairman, argued that the stock provides investors with exposure to BTC in a safe way. The company currently holds $15 billion worth of BTC.

Elsewhere, San Francisco-based Coinbase (NASDAQ: COIN), the largest U.S. cryptocurrency exchange, also rose more than 6%. exchange – which be revealed 2021—This year has been smooth sailing. In February, it dropped its fourth quarter 2023 results and returned to profit.

Coinbase’s stock is currently priced at $255.99 a pop. This year it has surged more than 63%.

Electric vehicle giant Tesla (NASDAQ: TSLA), one of the largest public companies holding over 9,000 BTC (about $700 million of the digital coin), has surged more than 5% and is currently trading at $173.39.

Bitcoin mining companies rose slightly. Hut 8 Corp (NASDAQGS: HUT) is up less than 2% and is currently priced at $9.14. CleanSpark, which uses green energy to mine BTC, jumped more than 1% to trade at $15.79 per share.

Editor: Andrew Hayward