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Why crypto stocks diverge as BTC hits ATH?
@Tiger_comments:As Bitcoin continues to reach new highs, crypto stocks’ performance diverged. data from tradingview Looking at year-to-date (YTD) performance: $MicroStrategy(MSTR)$ has surged by 150%, reaching $1800 in extended trading. $Coinbase Global, Inc.(COIN)$ and $CleanSpark, Inc.(CLSK)$ have closely followed BTC's performance. However, mining stocks $Marathon Digital Holdings Inc(MARA)$ and $Riot Blockchain, Inc.(RIOT)$ have dropped by 14% and 24%. Why such a stark contrast among these crypto stocks? As the market anticipates the halving in April, output of mining stocks will decrease accordingly. $MicroStrategy(MSTR)$ issues notes to buy BTC. By transforming assets (newly issued notes) into BTC, the company serves as a leveraged BTC ETF. $Coinbase Global, Inc.(COIN)$ primarily operates as a cryptocurrency exchange. As more retail investors begin to trade Bitcoin and crypto stocks, Coinbase's trading volume will surge. Top 10 Companies with the Largest Bitcoin Holdings $Hut 8 Mining Corp(HUT)$ $Block(SQ)$ data from bitcointreasuries With diverged performance, would you invest in Bitcoin, ETF, or crypto stocks? Which crypto stock are you bullish on? Will Microstrategy meet $2000 this week? Rewards Leave your comments and also post to win tiger coins~ Every valid comment will get at least 5 tiger coins! The hot and insightful comment will even get hundreds of tiger coins!
Why crypto stocks diverge as BTC hits ATH?Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.