Are there any US stocks that are closely tied to the success of cryptocurrencies?

3 answers

• Dec 28, 2021 · 3 years ago
  Yes, there are some US stocks that are closely tied to the success of cryptocurrencies. One example is MicroStrategy (MSTR), a business intelligence company that has invested heavily in Bitcoin. MicroStrategy's stock price has shown a strong correlation with the price of Bitcoin, as the company holds a significant amount of Bitcoin on its balance sheet. When the price of Bitcoin goes up, MicroStrategy's stock price tends to rise as well. However, it's important to note that investing in individual stocks carries its own risks, and the correlation between a stock and cryptocurrencies can change over time.
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• Dec 28, 2021 · 3 years ago
  Absolutely! Some US stocks are highly influenced by the performance of cryptocurrencies. Take Riot Blockchain (RIOT) for example. Riot Blockchain is a company that focuses on cryptocurrency mining and has a direct exposure to the cryptocurrency market. When the price of cryptocurrencies, such as Bitcoin, increases, Riot Blockchain's stock price tends to follow suit. However, it's important to conduct thorough research and consider other factors before making any investment decisions.
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• Dec 28, 2021 · 3 years ago
  Definitely! One notable US stock that is closely tied to the success of cryptocurrencies is MicroStrategy (MSTR). MicroStrategy has made a strategic decision to allocate a significant portion of its cash reserves into Bitcoin. This move has attracted a lot of attention from investors who are interested in gaining exposure to cryptocurrencies through a traditional stock. As a result, MicroStrategy's stock price has shown a strong positive correlation with the price of Bitcoin. It's worth keeping an eye on MicroStrategy and other similar stocks if you want to track the performance of cryptocurrencies through the stock market.
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