Crypto-Related Stocks Sink, Following Bitcoin Lower Friday
Key Takeaways
- Shares of Mara Holdings, Strategy, and several other companies tied to cryptocurrencies fell Friday, along with the price of Bitcoin.
- Stocks were broadly lower Friday after inflation and consumer sentiment data raised concerns about the state of the economy.
- The price of Bitcoin surged in the wake of Donald Trump’s reelection on expectations of a friendlier regulatory environment, though the cryptocurrency lost some of those gains in recent weeks.
Shares of Mara Holdings (MARA), Strategy (MSTR), and several other companies tied to cryptocurrencies fell Friday along with the price of Bitcoin (BTCUSD).
Mara Holdings plunged 9%, Strategy dropped 10%, and Coinbase (COIN) fell 7%, as Bitcoin slid about 4% to just over…
