Cryptocurrency concept stocks collectively rose, welcoming a "good start" in 2025

Zhitong
2025.01.02 11:38
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Due to traders' expectations that 2025 will be a strong year for cryptocurrencies, stocks related to cryptocurrencies rose sharply in pre-market trading on Thursday. Bitcoin increased by 2.15% to $965,000, MicroStrategy rose by 5.2%, and Hut 8 Mining climbed by 5.4%. However, some cryptocurrency concept stocks such as Mara Holdings and Riot Platforms experienced significant declines, falling by 26.9% and 33.7%, respectively

According to Zhitong Finance APP, as traders expect 2025 to be a strong year for cryptocurrencies, stocks related to cryptocurrencies rose sharply in pre-market trading on Thursday.

Bitcoin broke the $100,000 mark in 2024, and stocks related to cryptocurrencies mainly benefited in the last few months of 2024 after Donald Trump won the U.S. presidential election.

With expectations that President-elect Donald Trump will establish a cryptocurrency-friendly regulatory agency, the market anticipates a strong performance for Bitcoin this year. As of the time of writing, Bitcoin rose 2.15% to $965,000.

However, despite Bitcoin's outstanding performance in 2024, the performance of cryptocurrency-related stocks has been far from consistent, with significant variations across the industry. MicroStrategy (MSTR.US), which has been aggressively buying Bitcoin, surged 322% over the year, becoming the undisputed big winner. Coinbase (COIN.US) rose 58.3%, and Hut 8 Mining (HUT.US) soared 62.6%.

Meanwhile, some cryptocurrency concept stocks also faced significant declines, with MARA Holdings (MARA.US) down 26.9%, Riot Platforms (RIOT.US) down 33.7%, CleanSpark (CLSK.US) down 15.4%, Bitfarms (BITF.US) plummeting 47.5%, and Hive Digital Technologies (HIVE.US) down 35.1%.

In Thursday's pre-market trading, cryptocurrency-related stocks rose, with MicroStrategy up 5.2%, Hive Digital Technologies up 5.3%, Hut 8 Mining up 5.4%, Bitfarms up 5.37%, Cipher Mining (CIFR.US) up 4.53%, Bit Digital (TBBT.US) up 4.78%, Riot Platforms up 3.53%, MARA Holdings up 3.76%, Coinbase up 3.95%, and CleanSpark up 2.93%

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