Bitcoin-related stocks rise as crypto market rejuvenates

The large correlation between several major Wall Street companies and the cryptocurrency ecosystem has come to the fore as the broader cryptocurrency rejuvenation has decimated some bitcoin-related stocks. After a decline in total market capitalization compared to the previous month, the global cryptocurrency market took a revival path after impressive news about the possible acceptance of bitcoin (BTC) by the e-commerce giant.. Amazon.com A. P.

Amazon news, which preceded the release of a position of the company’s crypto expert on the eve of the integration of Bitcoin payments, triggered a massive buyback of bitcoin, with the price rising to a one-month high of $ 39 437.87 today. Bitcoin is currently trading at $ 39,169.52, up 13.91% over the past 24 hours, according to data from CoinMarketCap.

Source: TradingView
The impressive growth of Bitcoin and the main cryptocurrency to the $ 40,000 price level has caused a number of incidents in the ecosystem, some of which are not in favor of short sellers. Over $ 1 billion of short positions have been liquidated in the market in the past 24 hours.

Effects of Bitcoin price rise: quoted stocks simulate launch
The rise in Bitcoin prices has also prompted the relaunch of a number of bitcoin-related companies that are traded on public exchanges. An excellent example is MicroStrategy Incorporated, a firm known for keeping more than 100,000 bitcoins on its balance sheet with an aggressive backlog policy. Shares of the Nasdaq-listed company rose 21.95% to $ 658.20.

London – based blockchain Argo, a Marathon Digital Holdings, Inc. other companies including. “Blockchain increased by 21.92%, 18.51% and 21.46% respectively. The Daily growth of this company is atypical for Wall Street peaks and shows the likely appearance of a new dawn for bitcoin and those stocks as a whole.

Robinhood Markets Inc plans to benefit from US stock brokerage and crypto trading

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