Bitcoin Surges Above $90,000, Boosts Cryptocurrency Stocks

Nov 15, 2024

Bitcoin has climbed back above the $90,000 mark, invigorating the U.S. stock market with a rise in cryptocurrency-related stocks. In the latest trading session, several companies have recorded gains due to this surge.

Among the notable performers, The9 Limited (NCTY) experienced an increase of over 3%. Meanwhile, Canaan Inc. (CAN, Financial) saw a rise of more than 2%. Other companies benefiting from Bitcoin's resurgence include MicroStrategy (MSTR), Bitdeer Technologies, Cipher Mining (CIFR), and Bitfarms (BITF), each witnessing an uptick of over 1% in their stock prices.

These movements reflect the positive market sentiment surrounding Bitcoin and its influence on the broader cryptocurrency sector.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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