Three Stocks Associated with Digital Assets Experience Soaring Prices
As Bitcoin (BTC) and the crypto markets experience a significant surge, three stocks related to digital assets are also soaring in value.
Coinbase, the largest cryptocurrency exchange in the US, has seen its shares rise by 7.3% in the last 24 hours, currently valued at $82.80. MicroStrategy, a business intelligence firm and the largest publicly traded corporate holder of BTC, has witnessed a 12.6% increase in its shares, trading at $425 at present. Grayscale Bitcoin Trust (GBTC), a digital asset manager aiming to track the price of Bitcoin, is up by 5% in the last day, currently worth $25.96.
Grayscale’s Recent Victories
Grayscale recently won a lawsuit against the US Securities and Exchange Commission (SEC), which resulted in the formal finalization of their victory yesterday. The company has also filed a new registration statement with the SEC to pursue an exchange-traded fund (ETF).
The submitted Form S-3 registration statement aims to register shares of Grayscale Bitcoin Trust under the Securities Act. This simplified form is used by companies that have fulfilled other reporting requirements and is a shorter version of Form S-1 filed before an initial public offering (IPO).
Hot Take: Rising Crypto Market Boosts Stocks Associated with Digital Assets
The recent surge in Bitcoin and crypto markets has had a positive impact on several stocks associated with digital assets. Coinbase, MicroStrategy, and Grayscale Bitcoin Trust have all experienced significant price increases as investors flock to these companies due to their involvement in the crypto space. As the adoption and acceptance of cryptocurrencies continue to grow, it is likely that these stocks will continue to perform well.
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