CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Bitcoin price surge drives BTC-related stocks to new multiweek highs

24.10.2023
A A
0
121
VIEWS
ShareShare

Monday’s Bitcoin (BTC) price surge has catapulted Bitcoin-related stocks to new heights, with the likes of Coinbase and MicroStrategy posting new multiweek highs.

Bitcoin mining stocks saw significant gains amid BTC price momentum, with United States-listed Riot Blockchain recording an 11.69% surge and Marathon Digital Holdings seeing a 14.6% increase. The upcoming halving event, which will cut the Bitcoin mining reward from 6.25 BTC to 3.125 BTC per block, also likely contributed to the price increase.

Marathon Digital stock price chart. Source: TradingView

Bitcoin mining stocks not only outperformed Bitcoin in the recent price rally but also in terms of year-to-date (YTD) gains. Cipher Mining has seen an increase of 356% YTD vs. Bitcoin’s 86% YTD gains. Similarly, Riot Platforms has registered a 163.10% YTD increase, and Northern Data, a general processing unit miner with headquarters in Frankfurt, Germany, has increased by 291.40%. Hut 8 Mining, Iris Energy, Bitfarms, Marathon Digital and Hive Technologies have all registered more than 100% growth in 2023.

Apart from public Bitcoin mining companies, other Bitcoin-centric public firms such as Coinbase and MicroStrategy also posted multiweek highs. Coinbase’s stock was up by 3.42% at the time of writing, while MicroStrategy — the public company holding the most Bitcoin — recorded a 9% surge on the daily charts.

Related: How high can Bitcoin price go by 2024?

MicroStrategy’s Bitcoin holding is back in the green for the third time in 2023. The profit on its BTC holdings comes after being in the red by as much as -50% during the bear market. MicroStrategy currently holds 158,245 BTC, bought for $4.68 billion at an average price of $29,582. The public company’s investment is currently worth $5.5 billion — amounting to nearly $1 billion in unrealized gains.

MicroStrategy stock price chart. Source: TradingView

The Bitcoin price breached the $35,000 mark on Oct. 23 with a double-digit surge, taking the price to a one-year high before retracing below $33,000. Earlier on Oct. 24, the BTC price surged another 5% and traded above $34,500 at the time of writing.

Magazine: Asia Express: PEX staff flee event as scandal hits, Mt. Gox woes, Diners Club crypto

Share9Tweet6ShareSharePin2

Related Posts

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift
Blockchain

Tether USDT: Massive 1 Billion Minting Sparks Crucial Market Shift

04.07.2025
0

Skip to content

Read moreDetails
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

03.07.2025
Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

Kazakhstan Crypto Reserve: Unlocking a Bold Future for National Digital Assets

30.06.2025
Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

25.06.2025
Load More
Next Post

Roobet Cup Launches $1 Million Pick-em Contest and CS2 Skin Giveaway on Free-to-Play Roobet.fun

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Top Performing AI-Based Cryptocurrencies

Top Performing AI-Based Cryptocurrencies

2 years ago

Realistic Bitcoin Price Prediction for the Next BTC Bull Run

2 years ago
Surprise Transfer of $16M in LTC Sparks Speculation and Excitement

Surprise Transfer of $16M in LTC Sparks Speculation and Excitement

2 years ago
Realized price and true market mean: Understanding Bitcoin’s key cost-basis indicators

Realized price and true market mean: Understanding Bitcoin’s key cost-basis indicators

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

Why Is Crypto Up Today? – July 7, 2025

UK’s Smarter Web Company Acquires $24M Worth of Bitcoin, Holdings Reach 1,000 BTC

US Secret Service Builds $400M Crypto War Chest From Seized Scams Over 10 Years

Trending

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?
All news

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
0

The Pepe price has risen by 3.5% in the past 24 hours, with its move to $0.00001007...

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

07.07.2025
Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz