Bitcoin-adjacent stocks boom as BTC surges, other US equities remain flat Quick Take
- In a noteworthy development, Bitcoin has surged past the $31,000 mark. However, in stark contrast, both the Nasdaq and the S&P 500 indexes remained relatively unchanged, further emphasizing Bitcoin’s apparent negative correlation with traditional equity markets.
- In addition, companies heavily invested in Bitcoin have also seen a significant uptick. MicroStrategy and Coinbase, both prominent players in the digital currency market, have experienced a 10% increase in their respective stock prices.
- Meanwhile, Bitcoin mining stocks are enjoying a particularly successful period, with significant double-digit gains. Notable gainers in this sector include companies like IREN, MARA, and RIOT.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
