“It’s better to buy bitcoin themed stocks like microstrategies or mining stocks than

When related stocks such as MSTR surge 35% Bitcoin Up 5.59% Ethereum 0.9%


“It’s better to buy bitcoin themed stocks like microstrategies or mining stocks than Ethereum and Ripple.”

These words seem to be common in the virtual asset community recently. This is because the formula of “the surge in altcoins after the rise of bitcoin,” which was used until the rise in 2021, has not been reproduced. Altcoins refer to coins other than bitcoin.

On the other hand, Bitcoin-themed stocks listed on the New York Stock Exchange continue to rise high. In other words, the way coin investors wanted Altcoin is appearing in the stock market. This seems to be because the market is good, with the New York Stock Exchange hitting an all-time high every day, and the inflow of funds into the coin market has decreased as bitcoin can be invested through exchange-traded funds (ETF) in the stock market.

According to Nasdaq on the 19th, the stock price of leading Bitcoin-themed stock MicroStrategy (MSTR) rose 34.95% over the month from the 19th to the 17th of last month.

MicroStrategy is an information technology (IT) company that provides management services that support efficient decision-making by collecting and analyzing corporate data. However, it is more famous as a company with about 210,000 Bitcoin. It is the largest except for companies that keep customers’ virtual assets, such as funds and virtual asset exchanges.

MicroStrategy shares have recently risen significantly because they were first incorporated into Morgan Stanley Capital International (MSCI), a global stock index. Microstrategy will be included in the MSCI World Index from the 31st.

Another reason is that Bitcoin’s price has recovered. MicroStrategy is known to investors as a stock that allows them to both invest and hedge in Bitcoin. MicroStrategy Chairman Michael Sailor said at a corporate briefing last year, “MicroStrategy is an item that can aggressively purchase bitcoin to ensure that the rise in bitcoin prices is reflected in the stock price, while defending the price downward through its main business, the software business competitiveness.”

17 Bitcoin-related shares 2

The fact that Bitcoin-themed stocks also showed a good trend as the New York Stock Exchange rose significantly recently, with the Dow Jones Index surpassing the 40,000 mark for the first time in history, also boosted the price of Bitcoin-themed stocks.

In fact, not only microstrategy but also Marathon Digital (MARA), a representative Bitcoin mining stock, rose 10.20%. Robinhood (HOOD), a platform that can trade both coins and stocks, also rose 12.18% over the same period.

On the other hand, altcoins, which have given higher returns than bitcoin, have recently performed very poorly. Over the past month, Ethereum has risen only 0.91%, while Ripple has risen only 4.13%. The biggest reason is that the funds that entered Bitcoin after passing the Bitcoin spot ETF did not flow into altcoins.

According to blockchain data analysis company Defyramar, the global market capitalization of stablecoins is currently $161.1 billion, still less than $187 billion just before the Lunatera incident. Stablecoins act like deposits in the stock market.

Kim Min-seung, head of the Kovit Research Center, said, “The great success of the Bitcoin ETF this year has pushed up the price of Bitcoin by purchasing it through ETFs, but they have not left the stock market to come to the coin market, so they are not acting as pressure to buy altcoins after selling them.”

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