Coinbase and MicroStrategy Are Riding Bitcoin Higher Today
Bitcoin (CRYPTO: BTC) was the talk of the crypto market again on Wednesday and has passed the $1 trillion market cap mark once again. Bitcoin is up 5.3% in the last 24 hours as of 3 p.m. ET.
Following Bitcoin's move is Coinbase Global (NASDAQ: COIN), which jumped as much as 14.5% in trading today, and (NASDAQ: MSTR), which jumped 12.8%. The two stocks are currently up 13.7% and 12.2% respectively.
The value of Bitcoin is up for several reasons today. First of all, investors are generally more bullish on the economy and earnings, which is pushing up the value of higher-risk assets like growth stocks, and Bitcoin often trades alongside growth stocks.
Source Fool.com
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