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Shares Of Blockchain-Linked Firms Soar Amid Signs of New Life

Stock MarketsAug 09, 2021 17:54
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By Dhirendra Tripathi

Investing.com – Shares of blockchain and crypto-linked companies were big gainers Monday as prices of Bitcoin (BitfinexUSD) and other digital currencies rose to their highest in more than two months.

Coinbase (NASDAQ:COIN) was up 8.4%. Riot Blockchain (NASDAQ:RIOT) soared 10.4% and Marathon Digital (NASDAQ:MARA) gained 5.3%.

MicroStrategy (NASDAQ:MSTR), one of the biggest Bitcoin investors among listed companies, rose 4%. According to a company note, MicroStrategy held approximately 105,085 Bitcoin as of June 30 at an aggregate cost of $2.7 billion. The most valued digital currency by market cap traded at a high of $36,089 that day.

Assuming the company has those coins still, they would be worth $4.83 billion at Bitcoin’s prevailing price of $45,993.

Bitcoin crossed the $46,000 mark today before touching the day’s high of $46,153 so far. It traded 4.4% higher at 1125 ET. Prices haven’t been this high since May 17. They have risen 42% in the last 30 days.

Ethereum ETH/USD rose 4.4% to trade above the $3,100 mark. Dogecoin DOGE/USD rose 3% and Polkadot pDOTn/USD 4.8%.

While governments look to launch their own digital currencies, recent trends suggest that the crypto world is able to stand on its own now and not be too moved by actions in China or Elon Musk’s tweets.

Shares Of Blockchain-Linked Firms Soar Amid Signs of New Life
 

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