Bitcoin(CRYPTO: BTC) traded nearly 12% higher in the early hours of Monday, here are six stocks to look out for today as the apex cryptocurrency regains its upwards momentum.
MicroStrategy Incorporated(NASDAQ:MSTR): The business intelligence company led by Michael Saylor is a Bitcoin play.
Last month, the company said it held 105,085 BTC acquired at an aggregate purchase price of nearly $2.741 billion and an average purchase price of about $26,090 per BTC.
On Friday, MicroStrategy stock closed 2.92% lower in the regular session at $539.71 and rose 3.02% higher at $556 in the after-hours session. Since 2021 began, MicroStrategy shares have spiked 361.5%.
Tesla Inc(NASDAQ:TSLA): The automakermay restart BTC payments, as per comments made by CEO Elon Musk at The B World Conference last week.
Teslapurchased $1.5 billionworth of Bitcoin in February andsold $272 million worthin the first quarter.
Tesla shares closed 0.91% higher at $643.88 in Friday’s regular session. The automaker’s shares are down 8.8% since 2021 began.
Marathon Digital Holdings Inc(NASDAQ:MARA): The digital asset technology company is involved in mining cryptocurrencies. Last month, the company-operated Mara Pool said itwould support Bitcoin Core 0.21.1software in turn signaling support for the Taproot soft fork.
Marathon shares rose 3.13% in the after-hours trading on Friday to $25.41 after closing 2.45% lower in the regular session at $24.64. On a year-to-date basis, the shares have spiked 136%.
Riot Blockchain Inc(NASDAQ:RIOT): The Bitcoin mining company saw$1.14 million worth of options bets against iton Friday when traders hoped that Bitcoin would head downwards over the weekend.
On Friday, Riot traded 3.17% higher in the after-hours trading to $28.99 after closing 2.67% lower in the regular session at $28.10. Riot shares are up 70.51% since the year began.
Square Inc(NYSE:SQ): This month, the Jack Dorsey-led Square said it would be launching aBitcoin hardware wallet. Dorsey also said Square isworking on a new fintech platform. In February, Squareadded $170 millionworth of BTC to its balance sheet.
Square shares closed 1.31% higher on Friday at $264. The company’s shares have shot up 19.37% on a YTD basis.
SOS Ltd(NYSE:SOS): The China-based company that provides its customers with blockchain-based rescue has seen its shares spike 72.22% on a YTD basis. The mining play reported a 336% fiscal-year revenue increase to $50.3 million for the year ended December 2020.
SOS shares rose 2.42% in the after-hours trading to $2.54 on Friday after closing 6.42% lower at $2.48 in the regular session the same day.
Other Notable Names:Other notable names to watch out on Monday that can move thanks to buoyant BTC are —NVIDIA Corporation(NASDAQ:NVDA),PayPal Holdings, Inc(NASDAQ:PYPL),CME Group Inc(NASDAQ:CME),Coinbase Global, Inc(NASDAQ:COIN), and Canaan Inc(NASDAQ:CAN).
While some of these firms are likely to move as they are related to mining equipment, others are trading platforms for cryptocurrencies.