Cryptocurrency and Bitcoin-focused stocks traded on the Nasdaq also rose as Bitcoin rose above $30,000.
The performance of crypto-focused stocks today is as follows:
- Coinbase +5%
- Riot Platforms +10%
- Marathon Digital +12%
- Bit Digital +12%
- HUT 8 Mining +10%
- Bitfarms +12%
Investors who want to be exposed to cryptocurrencies, but do not want to use crypto money exchanges for various reasons and do not want to carry crypto money risk directly, can indirectly obtain crypto money exposure through such stocks.
When we look at the performances of 2023, while Bitcoin experienced an increase of 84%, these stocks provided much higher returns.
A person who invested in Coinbase stock instead of buying Bitcoin on January 1 received much more return from Bitcoin.
Coinbase stock's peak since the start of the year represented a 177% gain, while its current level represents a 127% rise.
We see that this rate increased to 268% in Marathon Digital, 250% in Bit Digital, and 327% in Riot Platforms.