Crypto stocks tanked at Monday’s U.S. market open following a disastrous crypto market crash late Sunday.
Shares in MicroStrategy (MSTR), the world’s largest corporate owner of Bitcoin, now trade for $1,212 – 16% down from Friday’s close.
Meanwhile, Coinbase (COIN) – the largest and only publicly traded cryptocurrency exchange in the United States – trades at $181, down 11% since Friday.
As for Bitcoin mining firms, the Valkyrie Bitcoin Miners ETF (WGMI) sank by 10.8% since Friday to $16.50 per share.
CleanSpark (CLSK), one of the best-performing mining stocks this year, now trades for $11.29, meaning its shares are up just 3.77% since January 1.
Some of the worst hit stocks are MicroStrategy ‘copycats’ – firms that have grown popular as BTC proxies after making Bitcoin a reserve asset on their balance sheet.
DeFi Technologies (DEFTF), the Canadian fintech firm, is down 24% from Friday’s close to just $1.14. Metaplanet, which has described itself as the ‘MicroStrategy of Japan,’is down to 670 JPY from 820 JPY last week.
Though all such stocks have undoubtedly dropped, they all mildly recovered from their immediate opening prices as crypto experienced a mild recovery at the time.
Both Bitcoin (BTC) and Ethereum (ETH) have risen 6.8% over the past hour to $53,000 and $2,370 respectively.
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