MicroStrategy Incorporated MSTR and Coinbase Global Inc COIN are trading lower by 2.66% to $274.42 and 3.90% to $68.06 respectively Monday morning. Shares of crypto-related stocks are trading lower amid a weekend decrease in the price of Bitcoin BTC/USD and Ethereum ETH/USD.
What Happened?
Crypto-related stocks have also been volatile amid a rebound in crypto last week but fell following news of Tesla Inc's TSLA Bitcoin sale.
Bitcoin is trading 3.0% lower at around $21,903 over the trailing 24 hours.
Ethereum is trading 4.8% lower at around $1,521 over the trailing 24 hours.
Bitcoin and Ethereum are still otherwise trading near 1-month highs Monday.
Why it Matters
When Tesla announced second-quarter earnings after the market close Wednesday, the electric automaker revealed it has sold off 75% of its Bitcoin position.
The company netted $963 million from the sale of its Bitcoin after citing an impairment loss of $101 million on its Bitcoin position in 2021... Read More
MicroStrategy is a provider of enterprise analytics and mobility software.
Coinbase Global provides financial infrastructure and technology for the crypto-economy in the United States and internationally.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
