Coinbase, Crypto Stocks Gain As Bitcoin Reclaims $50,000-level By Investing.com

© Reuters.

By Dhirendra Tripathi

Investing.com – Coinbase (NASDAQ:) and stocks of other crypto-linked companies are set for a higher opening Monday as () reclaimed the $50,000-mark and other digital currencies like Cardano and Polkadot soared.

Coinbase traded 3% higher in premarket, while other stocks traded higher. Riot Blockchain (NASDAQ:) jumped 6.2% and Marathon Digital (NASDAQ:) gained 7.4%.

Hut 8 Mining (TSX:) soared 9% and Bit Digital (NASDAQ:) was up 6%.

MicroStrategy (NASDAQ:), one of the biggest Bitcoin investors among listed companies, rose nearly 5%.

According to a company note, MicroStrategy held approximately 105,085 Bitcoin as of June 30 at an aggregate cost of $2.7 billion. The most valued digital currency by market cap traded at a high of $36,089 that day. It touched a high of $50,498 today and later traded at $50,350.

Assuming MicroStrategy is still holding those coins, they will be worth $5.29 billion, a 96% appreciation from their cost price.

Cryptocurrencies have recovered sharply after China’s tightening of rules on their trading led to sharp cuts in prices in May. More companies are now accepting payments in Bitcoins and, despite much brouhaha, most governments haven’t really tightened the rules too much.

Bitcoin last traded above $50,000 on May 15 before slumping to a low of $30,261 just four days later.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.