6 Stocks To Watch Today As Bitcoin Regains Momentum

Bitcoin BTC/USD traded nearly 12% higher in the early hours of Monday, here are six stocks to look out for today as the apex cryptocurrency regains its upwards momentum.

MicroStrategy Incorporated MSTR: The business intelligence company led by Michael Saylor is a Bitcoin play. 

Last month, the company said it held 105,085 BTC acquired at an aggregate purchase price of nearly $2.741 billion and an average purchase price of about $26,090 per BTC. 

See Also: Bitcoin Bull Michael Saylor On Ethereum, Altcoins Says 'There Is Place For Everybody'

On Friday, MicroStrategy stock closed 2.92% lower in the regular session at $539.71 and rose 3.02% higher at $556 in the after-hours session. Since 2021 began, MicroStrategy shares have spiked 361.5%.

Tesla Inc TSLA: The automaker may restart BTC payments, as per comments made by CEO Elon Musk at The B World Conference last week.

Tesla purchased $1.5 billion worth of Bitcoin in February and sold $272 million worth in the first quarter.

Tesla shares closed 0.91% higher at $643.88 in Friday’s regular session. The automaker’s shares are down 8.8% since 2021 began.

Marathon Digital Holdings Inc MARA: The digital asset technology company is involved in mining cryptocurrencies. Last month, the company-operated Mara Pool said it would support Bitcoin Core 0.21.1 software in turn signaling support for the Taproot soft fork.

Marathon shares rose 3.13% in the after-hours trading on Friday to $25.41 after closing 2.45% lower in the regular session at $24.64. On a year-to-date basis, the shares have spiked 136%.

Riot Blockchain Inc RIOT: The Bitcoin mining company saw $1.14 million worth of options bets against it on Friday when traders hoped that Bitcoin would head downwards over the weekend.

On Friday, Riot traded 3.17% higher in the after-hours trading to $28.99 after closing 2.67% lower in the regular session at $28.10. Riot shares are up 70.51% since the year began.

Square Inc SQ: This month, the Jack Dorsey-led Square said it would be launching a Bitcoin hardware wallet. Dorsey also said Square is working on a new fintech platform. In February, Square added $170 million worth of BTC to its balance sheet.

See Also: Jack Dorsey Tells Elon Musk: Bitcoin Has 'Irreverence' Factor Going For It Just As Much As Dogecoin

Square shares closed 1.31% higher on Friday at $264. The company’s shares have shot up 19.37% on a YTD basis.

SOS Ltd SOS: The China-based company that provides its customers with blockchain-based rescue has seen its shares spike 72.22% on a YTD basis. The mining play reported a 336% fiscal-year revenue increase to $50.3 million for the year ended December 2020.

SOS shares rose 2.42% in the after-hours trading to $2.54 on Friday after closing 6.42% lower at $2.48 in the regular session the same day.

Other Notable Names: Other notable names to watch out on Monday that can move thanks to buoyant BTC are — NVIDIA Corporation NVDA, PayPal Holdings, Inc PYPL, CME Group Inc CME, Coinbase Global, Inc COIN, and Canaan Inc CAN. 

While some of these firms are likely to move as they are related to mining equipment, others are trading platforms for cryptocurrencies.

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