Bitcoin (BTC) is up 87% this year, even before today’s rally to $31,000, but the asset’s rising tide has lifted public stock for crypto companies to even greater heights. Grayscale Bitcoin Trust (GBTC) shares have risen 196%, MicroStrategy (MSTR) stock is up 161%, Coinbase (COIN) shares have jumped 135%, and Bitcoin mining firms have seen an average return of 148.59%. Grayscale plans to convert its fund into a spot Bitcoin ETF, and a recent legal victory has made this a much more likely possibility. This has caused the share discount to shrink dramatically and has worked in tandem with BTC’s rising underlying value to create a massive windfall for GBTC holders. Companies such as Coinbase, PayPal, Square, and MicroStrategy have all used Bitcoin to bolster their business and have seen varying degrees of success. #Bitcoin #GBTC #Crypto #MSTR #Coinbase
You can read more about this topic here: Decrypt: These Crypto Stocks Are Still Outperforming Bitcoin
