Crypto stocks like Riot Platforms Inc and Marathon Digital Holdings Inc rocketed this week after the Bitcoin price breached the $30,000 psychological barrier.
Bitcoin pulled out of a tight $28,000 level on Monday afternoon and then pushed steadily through $30,000 for the first time since June 10, 2022, late Monday evening, according to CoinDesk, which added that the crypto is now “up more than 80% in 2023 after having started the year at about $16,500.”
In a good sign, Bitcoin was trading comfortably at 30,454.89 at 11.14 am on Friday.
Since a rising tide lifts all boats, Riot and Marathon Digital are up nearly 50% this week.
Meanwhile, crypto exchange Coinbase Global Inc (NASDAQ:COIN) was up nearly 12.8%, while Mike Novogratz's crypto merchant bank Galaxy Digital (TSX-V:GLXY) Holdings Limited climbed 16.6% this week.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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