Corporate Stocks Linked To The Fate Of Bitcoin Suffers Major Losses.
2021-05-19 | Robin Williams
Corporate stocks tied closely to the fate of Bitcoin [
BTC, -13.14%] are following the leading cryptocurrency into major downfall recorded today on Wednesday.
With BTC down roughly 20%
within the past 24 hours, leading bitcoin proxy stocks have followed suit.
MicroStrategy, the business intelligence firm with billions in bitcoin reserves, is down 10% to $435
Mln within the past 24 hours.
Square, the owner
of a renowned App and a holder of bitcoin reserves, is down 3% to $197 USD. Coinbase, the leading cryptocurrency exchange
within the United States, is down 7% and flirting with all-time lows at $222 USD.
Furniture maker
Ethan Allen, the shares of which have benefited from the increase in Ethereum [
ETH, -20.95%]
due to the company's
ticker being ETH, may now be paying
the worth for that association today, down 5% to $27 USD.
The Bitwise Cryptocurrency Industry Innovators ETF, which tracks 30 prominent publicly listed crypto firms, is down
9.25% at the reporting time.
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