Bitcoin (BTC) Surges Above $90,000, Lifting Shares Of MicroStrategy (MSTR), Coinbase (COIN) And Others

Shares of Bitcoin-linked companies MicroStrategy Inc MSTR, Coinbase Global Inc COIN, MARA Holdings Inc MARA and Riot Platforms Inc RIOT all traded higher Tuesday as Bitcoin

Shares of Bitcoin-linked companies MicroStrategy Inc (NASDAQ:MSTR), Coinbase Global Inc (NASDAQ:COIN), MARA Holdings Inc (NASDAQ:MARA) and Riot Platforms Inc (NASDAQ:RIOT) all traded higher Tuesday as Bitcoin rose above $91,000.

What Happened: Shares of MicroStrategy closed up 0.44% to $709.28 on Tuesday. Shares of Coinbase traded up 0.76% to $118.21 on Tuesday.

MARA Holdings shares closed up 0.75% to $74.24 on Tuesday. Riot Platforms shares traded up 0.8% to $64.34 on Tuesday.

Bitcoin continued to rally, adding 3.3% in 24 hour trading and trading above the $91,000 level. The move comes amid potential investor interest in Bitcoin as a safe-haven asset, or “digital gold.”

The dollar and U.S. equities continue to trade volatile, which may be increasing interest in alternative assets like Bitcoin.

What Is Being Said: Bitcoin’s rally, alongside record highs in gold futures, may be signaling an increasing appeal for investors to own assets other than traditional U.S. stocks, especially in volatile markets.

There has been speculation around Federal Reserve Chair Jerome Powell’s possible resignation and expectations of more dovish policy shifts from the Fed, which may be driving interest away from equities and into Bitcoin as traders seek inflation hedges and diversification.

MEXC COO Tracy Jin recently told Benzinga that the cryptocurrency’s strength is “reshpinging investor perception.” He added that institutional flows could accelerate in the second quarter if Bitcoin holds a key level of support.

“If Bitcoin can sustain above $86,000, we might see institutions become more active in the second quarter.”

Bitcoin has cleared its 50-day moving average, and FxPro's Alex Kuptsikevich said on Monday that he sees potential for a steeper ascent once Bitcoin’s price moves above its 200-day moving average.

How To Buy A Stock: You can buy shares in a company like MARA Holdings in several ways, including through a brokerage account.