Why Bitcoin- And Ethereum-Related Stocks Are Rising Today

Shares of several cryptocurrency-related companies, including Coinbase Global Inc COIN, Marathon Digital Holdings Inc MARA and Riot Blockchain Inc RIOT, are trading higher in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD.

Bullish comments from Jack Dorsey, co-founder and former CEO of Twitter Inc TWTR as well as founder and CEO of Block Inc SQ, may have impacted cryptocurrency markets Monday night. Dorsey suggested that Bitcoin will eventually replace the U.S. Dollar about 2 hours before Bitcoin began surging. 

Yes, Bitcoin will

— jack� (@jack) December 21, 2021

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. The stock was up 3.18% at $245.62 at publication time.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets. Shares were up 6.78% at $34.67 at publication time.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 5.46% at $23.75 at publication time.

See Also: Bitcoin, Ethereum, Dogecoin Fail To Break Out And The Next Few Weeks Could Be 'Very Choppy'

BTC, ETH Price Action: At publication time, Bitcoin was up 6.73% at $48,881 over a 24-hour period and Ethereum was up 5.95% at $4,011.62 over a 24-hour period.

Photo: EivindPedersen from Pixabay.