Why Shares of Riot Blockchain, Silvergate Capital, and Hut 8 Mining Are Rising Today
Shares of several crypto stocks bounced today, as the price of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC) , rose over the weekend and investors changed their outlook for interest rate hikes.
Shares of the Bitcoin mining company Riot Blockchain (NASDAQ: RIOT) traded more than 19% higher as of 11:50 a.m. ET today. Shares of the crypto bank Silvergate Capital (NYSE: SI) traded more than 14% higher, and shares of Hut 8 Mining (NASDAQ: HUT) were up more than 16%.
Stocks and cryptocurrencies have risen in recent days after a volatile last week in which new data showed that inflation in June stayed hot and investors began to get nervous over just how hawkish the Federal Reserve might be with interest rate hikes.
Source Fool.com
