Bitcoin Hits All-Time Highs, Causing Bitcoin Miner Stocks to Skyrocket Today
Around 2 a.m. EST on Dec. 30, famous cryptocurrency bitcoin reached an all-time high of $28,579.59, according to CoinDesk. It's since pulled back a little, but is still up roughly 7% over the past 24 hours (remember, cryptocurrencies trade around the clock whereas stocks only trade when the market is open).
Fresh highs from bitcoin motivate traders to continue scooping up shares of bitcoin miner stocks like Bit Digital, Riot Blockchain, and Marathon Patent Group. As of noon EST, here's where these stocks were:
These three stocks aren't just big winners today, they're also among the biggest winners in 2020. Not only is each one at least a 10-bagger and crushing the market, each is also drastically outpacing gains from bitcoin. And that could be a long-term problem for investors.
Source Fool.com
