As Bitcoin crosses $100K, Robinhood soars 15%, BTC miners’ time to shine, and more

Robinhood’s HOOD led this week’s crypto stock rally by 15%. Bitcoin miners and MSTR also posted over 5% gains, but Coinbase’s COIN was sluggish. Crypto-related stocks rallied higher as Bitcoin [BTC] surged to $104K for the first time since late January. The world’s largest digital asset added over $8.5K, about 9% from Monday lows of $93K. HOOD, miners lead crypto stock rally Robinhood’s HOOD, a crypto and stock trading retail app, led the weekly rally with a 15% gain. It jumped from $45 to $55 at the time of writing. Source: Google Finance Bitcoin miner stocks sub-sector, as shown by CoinShares Valkyrie Bitcoin Miners ETF, also posted impressive gains of 5.36% in the past four trading days. In fact, miner stocks’ pump was almost similar to Strategy’s MSTR 5% uptick. Strategy, a pioneer in BTC corporate treasury , saw its stock, MSTR, jump 5.28% over the same period. It tapped $420 for the first time since last December. When tracked from the April low, MSTR has gained over 70%, jumping from $240 to $420. Source: MSTR, TradingView Since the April lows, BTC has recovered over 30%. This implied that MSTR offered investors 2x returns over the same period and was a better bet than BTC. However, Coinbase’s COIN, a crypto trading platform, posted less than a 1% gain in the past four days. The dismal performance was due to the recent mixed earnings report, which dropped below analysts’ expectations. Source: Crypto stocks vs. BTC, TradingView That said, SOL Strategies, a firm running a corporate treasury based on SOL, was an outlier among crypto stocks when tracked from April. SOL Strategies’ stock, CYFRF, surged 54% compared to MSTR’s 44%. But BTC rose 25% over the same period. This meant that SOL exposure offered more returns than BTC in the past five weeks of trading. The extended rally was triggered by positive macro updates, especially the U.S. trade deal with the UK. Another potential catalyst would be another trade deal with China. Source: https://ambcrypto.com/as-bitcoin-crosses-100k-robinhood-soars-15-btc-miners-time-to-shine-and-more/