Crypto Stocks Rebound with Bitcoin Bounce
June 21 2022 - 11:25AM
Dow Jones News
By Dean Seal
Shares of companies in the cryptocurrency industry recovered
some of their recent losses Tuesday morning after the price of
Bitcoin climbed 4.5% to $21,588.
The world's largest crypto asset by market capitalization is
still down more than 50% year-to-date following a crushing selloff
in the space that has dragged big-name crypto companies down with
it.
Bitcoin's bounce Tuesday sent shares of Coinbase Global Inc.,
the operator of the largest U.S. crypto exchange, up 16% in early
trading to $59.44.
Bitcoin miner Riot Blockchain Inc. shares rose 15.5% to $5.37.
Shares of Marathon Digital Holdings Inc., another miner, gained 14%
to $7.54.
MicroStrategy Inc. shares were up 15% in early trading to
$192.78. The maker of business-intelligence software has been
growing its position in Bitcoin for the last two years as a hedge
against inflation.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 21, 2022 11:10 ET (15:10 GMT)
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