Bitcoin
$47,491.75-1.26%
Ethereum
$3,442-5.00%
XRP
$1.07-3.09%
Cardano
$2.37-3.47%
Polkadot
$33.86-2.97%
Stellar
$0.321368-3.66%
Dogecoin
$0.242183+0.65%
Chainlink
$28.27-7.50%
Uniswap
$24.58-7.99%
Polygon
$1.34-6.36%
Litecoin
$180.90-4.69%
Bitcoin Cash
$626.70-1.63%
Algorand
$1.99-8.53%
Wrapped Bitcoin
$47,506.93-1.17%
Cosmos
$33.69+0.96%
Filecoin
$81.98-3.36%
The Graph
$0.823269-5.59%
Tron
$0.105746-9.24%
Ethereum Classic
$57.09-2.26%
Aave
$364.16-6.95%
Tezos
$6.25-5.89%
EOS
$5.45+6.52%
NEO
$49.16-3.86%
Monero
$263.09-0.94%
IOTA
$1.66+9.23%
BitTorrent
$0.003926-3.03%
Bitcoin SV
$158.40+0.91%
Waves
$29.19-6.50%
Maker
$2,797.20-9.57%
Dash
$199.92-5.22%
Decred
$146.66+4.03%
Decentraland
$0.823348-3.55%
ICON
$1.91-7.70%
NEM
$0.184090-3.27%
Zcash
$136.32-2.58%
Qtum
$12.70-0.70%
NuCypher
$0.329281-3.25%
Bitcoin Gold
$65.72-4.43%
Yearn Finance
$33,483.32-6.51%
OmiseGO
$8.43-4.29%
Basic Attention Token
$0.754000-4.61%
0x
$1.08-9.78%
Paxos Standard
$1.00+0.04%
Fetch.ai
$0.871429-5.75%
Bancor
$4.09-4.02%
Ren
$0.926113-13.70%
Band Protocol
$9.20-5.44%
Siacoin
$0.018429-3.60%
Kava.io
$6.21-2.15%
Nano
$5.42-5.49%
Loopring
$0.459610-4.36%
Storj
$1.38-3.41%
Civic
$0.548129+3.45%
Lisk
$3.59-2.26%
Numeraire
$43.21-3.84%
Orchid
$0.364755-6.63%
PAX Gold
$1,762.60-0.13%
Augur
$26.08-2.01%
Aragon
$5.80-6.16%
Enzyme
$112.96-9.35%
district0x
$0.175165-3.60%
Kyber Network
$1.84-4.04%
SingularDTV
$0.001410+16.77%
Tether
$1.00-0.00%
USD Coin
$1.00+0.01%
Dai
$1.00-0.11%

Bitcoin Proxy Stocks Tumble as BTC Tanks

Crash in the leading cryptocurrency hitting related companies.

May 19, 2021 at 2:54 p.m. UTC
Updated Sep 14, 2021 at 12:57 p.m. UTC

Stocks of publicly traded companies tied closely to the fate of bitcoin are following the leading cryptocurrency into a sea of red Wednesday.

  • With BTC down roughly 20% in the last 24 hours, leading bitcoin proxy stocks have followed suit.
  • MicroStrategy, the business intelligence firm with billions in bitcoin reserves, is down 10% to $435 in the last 24 hours.
  • Square, the owner of Cash App and another holder of bitcoin reserves, is down 3% to $197.
  • Coinbase, the leading crypto exchange in the U.S., is down 7% and flirting with all-time lows at $222.
  • Even furniture maker Ethan Allen, the shares of which have benefited from the rise in ether due to the company's stock ticker being ETH, may now be paying the price for that association today, falling 5% to $27.
  • The Bitwise Crypto Industry Innovators ETF, which tracks 30 prominent publicly listed crypto firms, is down 9.3% at press time.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...