What's Going On With Bitcoin-Related Stocks MicroStrategy, Coinbase, MARA Holdings And Riot Platforms?
Shares of Bitcoin-linked companies, including MicroStrategy, Coinbase, MARA Holdings, and Riot Platforms, rose as Bitcoin surged above $91,000, gaining 3.3%. This increase is attributed to growing investor sentiment viewing Bitcoin as a safe-haven asset amid volatility in U.S. equities and the dollar. Speculation around potential shifts in Federal Reserve policy may also be driving interest in Bitcoin. Technical indicators suggest further momentum, with Bitcoin clearing key moving averages, reinforcing its appeal as an alternative investment.
Shares of Bitcoin-linked companies MicroStrategy Inc MSTR, Coinbase Global Inc COIN, MARA Holdings Inc MARA and Riot Platforms Inc RIOT all traded higher Tuesday as Bitcoin surged above $91,000, gaining 3.3%.
The move comes potentially amid growing investor sentiment that Bitcoin is evolving into a safe-haven asset — "digital gold" — as U.S. equities and the dollar continue to be volatile.
What To Know: Bitcoin's rally, alongside record highs in gold, is potentially reinforcing its appeal as an alternative to traditional U.S. stocks, particularly in volatile markets.
Read Also: Bitcoin Is Dependent On The US, Not A ‘Non-Dollar Asset,’ Peter Schiff Says
Speculation around Fed Chair Jerome Powell's possible resignation and expectations of dovish policy shifts may be further driving interest in Bitcoin over equities, as traders seek inflation hedges and diversification.
MEXC COO Tracy Jin told Benzinga the cryptocurrency's strength is "reshaping investor perception," noting that institutional flows could accelerate in the second-quarter if Bitcoin holds key support above $86,000.
As reported by our Benzinga team, technical signals also support the move. Bitcoin cleared its 50-day moving average, with FxPro's Alex Kuptsikevich pointing to momentum above its 200-day MA as a potential catalyst.
Read Also: Bitcoin’s Dual Role Could Propel It To $200,000: Standard Chartered
How To Buy MARA Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in MARA Holdings’ case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.