Why Why Crypto-Related Stocks MicroStrategy, Argo Blockchain And Bit Digital Are Moving Higher
Portfolio Pulse from Erica Kollmann
Crypto-related stocks MicroStrategy, Bit Digital, and Argo Blockchain are moving higher due to gains in the crypto market, led by Bitcoin and Ethereum. The market is benefiting from positive developments such as the launch of EDX Markets exchange, backed by Charles Schwab, Fidelity, and Citadel Securities, and BlackRock's application for a spot Bitcoin ETF.
June 21, 2023 | 4:54 pm
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POSITIVE IMPACT
Argo Blockchain's stock is up over 20% at $1.40, benefiting from the gains in the crypto market.
Argo Blockchain's stock price is directly impacted by the positive developments in the crypto market, as the company provides a platform for cryptocurrency mining operations. The launch of EDX Markets and BlackRock's Bitcoin ETF application are likely to boost investor confidence in the crypto market, leading to a short-term positive impact on Argo Blockchain's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bit Digital's stock is up over 5% at $4.06, driven by the gains in the crypto market.
Bit Digital's stock price is directly impacted by the positive developments in the crypto market, as the company is a digital asset mining company. The launch of EDX Markets and BlackRock's Bitcoin ETF application are likely to boost investor confidence in the crypto market, leading to a short-term positive impact on Bit Digital's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy's stock is up nearly 6% at $332.03, benefiting from the positive developments in the crypto market.
MicroStrategy's stock price is directly impacted by the positive developments in the crypto market, as the company has significant investments in Bitcoin. The launch of EDX Markets and BlackRock's Bitcoin ETF application are likely to boost investor confidence in the crypto market, leading to a short-term positive impact on MicroStrategy's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100