2024

Bitcoin

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<p>The post <a href="https://coinpedia.org/news/bitcoin-hits-50-3k-milestone-triggers-surge-in-microstrategy-and-mining-stocks/">Bitcoin Breaches $50k, Triggers Stock Surge for MicroStrategy &amp; Miners</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In an exciting turn of events, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> surged past $50,000 on February 12, creating waves not only in the crypto world but also impacting the stock market. This surge is not only good news for Bitcoin; it’s also triggering significant gains in related stocks, particularly for <a href="https://coinpedia.org/news/microstrategys-financial-report-q4-2023-heres-how-much-bitcoin-microstrategy-is-holding/">MicroStrategy</a> and Bitcoin mining companies.</p> 
<p>Read more about the developments below.</p> 
<h2 class="wp-block-heading" id="h-microstrategy-s-winning-streak">MicroStrategy’s Winning Streak</h2> 
<p>MicroStrategy, led by <a href="https://coinpedia.org/news/michael-saylor-predicts-2024-bull-run-with-bitcoin-etf-as-major-wallstreet-development-in-30-years/">Michael Saylor</a>, experienced a remarkable 11% increase in its stock (MSTR) within just 24 hours, reaching a value of $719. Over the past week, MSTR saw an impressive 33% gain.</p> 
<p>MicroStrategy’s success story revolves around its strong belief in Bitcoin as a digital asset and store of value. The company holds a massive 190,000 BTC in its treasury, valued at $8.1 billion, serving as a strategic hedge against inflation.</p> 
<p>Adding to its Bitcoin holdings, MicroStrategy recently acquired 850 BTC for $37.2 million in January.</p> 
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   <p lang="en" dir="ltr">In January, <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC. Please join us at 5pm ET as we discuss our Q4 2023 financial results and answer questions about our <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> strategy and business outlook. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/j5SbcELsue">https://t.co/j5SbcELsue</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1754976122607980726?ref_src=twsrc%5Etfw">February 6, 2024</a>
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<p>Analysis shows that on February 12, the same day Bitcoin reached <a href="https://markets.coinpedia.org/bitcoin/">$50,363</a>, MSTR also hit an intraday high of $712. The strong correlation coefficient of 0.94 suggests a robust relationship between the price movements of MicroStrategy and Bitcoin.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/will-blackrock-surpass-microstrategy-in-bitcoin-holdings/">Will BlackRock Surpass MicroStrategy in Bitcoin Holdings?</a></p> 
<h2 class="wp-block-heading" id="h-mining-stocks-on-the-upswing"><strong>Mining Stocks on the Upswing</strong></h2> 
<p>The positive momentum from Bitcoin’s surge is flowing into Bitcoin mining stocks, resulting in significant gains. <a href="https://coinpedia.org/crypto-live-news/riot-blockchain-mines-1106-btc-cutting-mining-costs-by-50/">Riot Platforms (RIOT)</a>, a key player in Bitcoin mining, experienced an outstanding 55% gain over the past week.</p> 
<p>After hitting a low of $9.64 on January 19, RIOT’s price surged by 70%, reaching an intraday high of $16.35 on February 12.</p> 
<p>Marathon Digital Holdings, another heavyweight in Bitcoin mining, posted an impressive 60% gain in the last seven days. Hive Blockchain Technologies (HIVE) also saw a notable 28% increase in its stock price during the same period.</p> 
<p>The <a href="https://www.marketvector.com/indexes/sector/mvis-global-digital-assets-mining">MVIS Global Digital Assets Mining Index</a> showcased a remarkable 108% surge in 2024.</p> 
<h2 class="wp-block-heading" id="strong-mining-profits-soar-despite-challenges-strong"><strong>Mining Profits Soar Despite Challenges</strong></h2> 
<p>Bitcoin’s price surge played a crucial role in boosting miners’ profits, even with increased mining difficulty. Bitcoin’s mining difficulty level hit an all-time high of 75.50 trillion hashes on February 12, showcasing the network’s strength.</p> 
<p>Despite the challenges posed by increased difficulty levels, miners reaped the rewards of Bitcoin’s price surge. The Luxor Hashprice Index, measuring a miner’s earnings from the power used on the Bitcoin blockchain, recorded a notable 16% increase this week, reflecting the positive outlook for miners due to the rising value of Bitcoin.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/bitcoin-price-hits-50k-after-almost-two-years-will-it-be-short-lived-or-rally-to-55k/">Bitcoin Price Hits $50K After Almost Two Years, Will It Be Short-Lived or Rally To $55K?</a></p> 
<p><strong>Optimism is still high!</strong></p> 
<p>Bitcoin’s climb past $50,000 is not only a significant milestone for the leading cryptocurrency but has also sparked optimism in related stocks, providing a promising outlook for investors in this dynamic market.</p>

Bitcoin Breaches $50k, Triggers Stock Surge for MicroStrategy & Miners

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