Posted 3/5/2024, 12:24:39 PM
Cryptocurrency Rally Lifts Crypto Stocks Coinbase and MicroStrategy
- Bitcoin (BTC-USD) and other cryptocurrencies rallied on Monday, lifting crypto stocks Coinbase (COIN) and MicroStrategy (MSTR)
- Coinbase earns fees from crypto trading, so more activity benefits revenue
- MicroStrategy holds over 190,000 bitcoins, so higher bitcoin prices directly lift its balance sheet
- Analysts are optimistic about further upside for MicroStrategy stock
- The recent crypto rally has been fueled by new Bitcoin ETFs and expectations of decreasing bitcoin supply after the upcoming "halving event"
