https://auntresodamid.com/iJugHxINePLH1VY/96561
MicroStrategy leads crypto stocks higher after bitcoin tops 0,000 for the first time

MicroStrategy leads crypto stocks higher after bitcoin tops $100,000 for the first time

Sharing is caring!


The Coinbase and bitcoin logos are displayed on a phone screen in San Anselmo, California, on Feb. 15, 2024.

Justin Sullivan | Getty Images

Cryptocurrency-related stocks popped in premarket trading Thursday after the price of bitcoin soared above $100,000 for the first time overnight.

MicroStrategy surged 6.1%, while Robinhood Markets and Coinbase Global climbed 4.3% and 3.5% each. Mara Holdings and Riot Platforms added around 6% and 4%, respectively.

Year to date, MicroStrategy has soared 542.8% as of Wednesday’s close. Robinhood has rallied more than 200%, while Coinbase has nearly doubled. Mara Holdings has lagged the group with a 10.5% gain.

Investors have become bullish on bitcoin after President-elect Donald Trump won the election on Nov. 5 on the expectations of a more relaxed regulatory environment.

Investors have also poured into leveraged Microstrategy ETFs, according to a research note from JPMorgan on Wednesday. A leveraged exchange traded fund can amplify the potential gains of an underlying index through by holding debt; as a result, it is also viewed as a higher-risk investment fund.

“The inflows into leveraged MicroStrategy ETFs accounted for almost a third of the record high $11bn inflow into overall crypto funds in November,” strategist Nikolaos Panigirtzoglou said in the note.



Source link

Oval@3x 2

Don’t miss latest news!

Select list(s):

We don’t spam! Read our [link]privacy policy[/link] for more info.

🕶 Relax!

Put your feet up and let us do the hard work for you. Sign up to receive our latest news directly in your inbox.

Select Your Choice:

We’ll never send you spam or share your email address.
Find out more in our Privacy Policy.

🕶 Relax!

Put your feet up and let us do the hard work for you. Sign up to receive our latest news directly in your inbox.

Select Your Choice:

We’ll never send you spam or share your email address.
Find out more in our Privacy Policy.

Sharing is caring!

Read More :-  Tesla stock pops 8% in premarket after report Trump wants to relax U.S. self-driving rules
Scroll to Top