Why Cryptocurrencies and Crypto Stocks Jumped This Week
Shares of cryptocurrency stocks jumped sharply this week, according to data provided by S&P Global Market Intelligence, as cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) made a sharp recovery. Bitcoin jumped on reports over the weekend that Amazon was looking to accept the cryptocurrency as early as this year for retail orders. Those rumors were shot down midweek, but Amazon did admit it's exploring the crypto space.
Bitcoin rose 15.7% between the close of trading a week ago Friday to early this Friday and reached over $40,000 during the week. Ethereum was up 10.8% over the same time frame.
In the past week, MicroStrategy (NASDAQ: MSTR) was up 15.8%, Grayscale Bitcoin Trust (OTC: GBTC) rose 25.6%, Riot Blockchain (NASDAQ: RIOT) popped 13.5%, and Bit Digital (NASDAQ: BTBT) jumped 88.2%.
Source Fool.com
