Why Shares of Coinbase, Silvergate Capital, and MicroStrategy Incorporated Are Rising This Week
Shares of several crypto stocks are rising this week as the price of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), has bounced more than 7.5% since Sunday.
For the week, shares of the large crypto exchange Coinbase (NASDAQ: COIN) traded more than 7% higher as of 10:53 a.m. ET today. Shares of the crypto bank Silvergate Capital (NYSE: SI) traded nearly 17% higher, and shares of the business intelligence and Bitcoin buyer MicroStrategy Incorporated (NASDAQ: MSTR) were up more than 21%.
Currently hovering around $20,850 as of this writing, the price of Bitcoin has bounced back this week, along with the broader stock market. The Nasdaq Composite is up nearly 4.6% over the past five days as the price of oil has declined and as treasury yields have come down as well.
Source Fool.com
