Market Cap
24h Vol
5649
Cryptocurrencies
45.9%
Bitcoin Share

MicroStrategy rises, Grayscale Bitcoin Trust falls as bitcoin decline takes a breather

MicroStrategy rises, Grayscale Bitcoin Trust falls as bitcoin decline takes a breather


Seeking Alpha
2022-01-25 18:57:51

Most bitcoin (BTC-USD)-related stocks are mixed as the world's largest cryptocurrency trades up on Tuesday, recently changing hands at $37.4K. BTC gains 3.2% over the past 24 hours, helping to push up MicroStrategy (MSTR +1.5%), which holds bitcoin (BTC-USD) on its balance sheet. In the past year, a comparison of bitcoin (BTC-USD), MicroStrategy (NASDAQ:MSTR), Grayscale Bitcoin Trust (OTC:GBTC), and Riot Blockchain (NASDAQ:RIOT), shows that none of those trades exceeded the S&P 500's 16% gain. In today's trading, Grayscale Bitcoin Trust (OTC:GBTC -0.8%), which holds bitcoin, remains weak; it's a different story for ether (ETH-USD), rising 4.6%, and Grayscale Ethereum Trust (OTCQX:ETHE +0.8%). A number of bitcoin miners remain in the red: Riot Blockchain (RIOT -1.3%), Bit Digital (BTBT -6.8%), CleanSpark (CLSK -3.6%), SOS (SOS -1.0%), and HIVE Blockchain (HIVE -0.8%). Those managing to rise include: Marathon Digital (MARA +0.1%), Hut 8 (HUT +1.5%), Bitfarms (BITF +1.0%), and BIT Mining (BTCM +2.6%). Operating efficiency


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