With bitcoin notching fresh highs, some closely correlated stocks look poised to gain — or suffer — depending on where the digital currency goes from here. Bitcoin crossed above the $100,000 mark for the first time late Wednesday, building on the rally that kicked off in the wake of President-elect Donald's Trumps victory, which boosted hopes for more favorable cryptocurrency policy. The cryptocurrency was last up about 2% at $101,201. BTC.
That means these stocks stand the most to gain if the market exuberance continues. However, these names also risk seeing the most significant downside action should enthusiasm reverse course. Here are some of the stocks with the highest correlations to bitcoin: Coinbase is one of the most connected stock on the list, with an 81% correlation.