Bitcoin's breakout above the psychological barrier of $30,000 has sparked a powerful rally in the shares of listed companies with significant exposure to the digital asset market. Companies such as Riot Blockchain (RIOT.US), Silvergate Capital (SI.US) and Coinbase (COIN.US) are trading up between 7% and 14%.
Bitcoin has already risen more than 90% from its low in early November 2022.
MicroStrategy (MSTR.US) is another company that is focusing investors' attention. Here, in addition to Bitcoin's sheer rally, market optimism is caught by the fact that the company's BTC investments have returned above the zone set by the average purchase price. The company purchased a total of about 140,000 bitcoin for $4.17 billion. This gave an average price of $29,803 per BTC. MicroStrategy co-founder and CEO Michael Saylor posted a comment on his Twitter feed today, declaring that "Bitcoin is Champion."
Correlation of the MSTR valentine and Bitcoin on the D1 interval. Source: xStation5
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