Why MicroStrategy, Coinbase, and Riot Blockchain Stocks All Fell This Week
Cryptocurrency stocks like MicroStrategy (NASDAQ: MSTR), Coinbase Global (NASDAQ: COIN), and Riot Blockchain (NASDAQ: RIOT) all pulled back during the past week. As of the market close on Thursday, these stocks were down 14%, 12%, and 14%, respectively, for the week. By comparison, the S&P 500 was flat during this time. The price of Bitcoin (CRYPTO: BTC) was also flat, whereas Ethereum (CRYPTO: ETH) was only down 6%.
As these numbers suggest, investors seem to be selling these specific stocks more than stocks or cryptocurrencies, in general. It may be impossible to know the exact reason for this, but there are a couple of things in the cryptocurrency world that might shed some light on what's going on.
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Source Fool.com
