Crypto-related stocks jump over 200% in just one year!
2023 turned out to be an exceptionally successful year for enterprises in the digital currency sector.
Large companies related to a greater or lesser extent to the digital currency sector, which are listed on the New York Stock Exchange, have recorded rapid increases in their share prices this year. First of all, this is about MicroStrategy, the largest corporate investor in the oldest cryptocurrency, and additionally about Coinbase, which is currently the largest American centralized cryptocurrency trading platform. However, it is worth considering whether this situation is directly related to the increase in BTC's price chart since the beginning of the year?
MicroStrategy and Coinbase are posting unprecedented gains
At the very beginning, it cannot be ignored that since the beginning of 2023, the shares of MicroStrategy, founded by Michael Saylor, have achieved spectacular growth, having increased in price by over 250%. The centralized exchange Coinbase, commanded by Brian Armstrong, can also boast of a similar increase in the value of shares, which amounted to as much as 240%.
It cannot be denied that this is definitely a nice change after the tragic 2022, which brought a significant decline in the value of these shares, which analysts estimate at over 50%. This was primarily due to geopolitical conflicts, especially the one between the Russian Federation and Ukraine, but also the situation in the digital currency sector. Last year's numerous disasters on the digital asset market severely and long-term damaged the enthusiasm of investors and other financial entities sympathetic to it.
It is worth adding that the end of 2022 led to a significant reduction in the valuation of COIN and MSTR shares to the lowest levels in many months.
The first of the mentioned assets started this year with a valuation of USD 34, while shares of MicroStrategy cost USD 145. With the constantly improving situation in the cryptocurrency sector and the vigorous growth of the Bitcoin price, the value of the shares of these entities has also increased significantly.
Investors associated with the digital currency market emphasize that MicroStrategy, which has been a strong supporter of BTC for a long time and has regularly purchased this asset, can now boast that MSTR shares have recently broken the astronomical level of $500. Recently, their value was as high as $520 for the first time since January 2022.
Finally, it is worth mentioning that the largest American cryptocurrency exchange, Coinbase, needed six months to break the threshold of $100 per share again. With the arrival of the "warm autumn" in the digital currency sector, a period commonly called "Uptober", which is characterized by significant increases in the prices of the best projects from this market, COIN shares recorded the highest level in over a year and cost $115.
