Year to date, MicroStrategy has soared 542.8% as of Wednesday's close. Robinhood has rallied more than 200%, while Coinbase has nearly doubled. Mara Holdings has lagged the group with a 10.5% gain.
Investors have become bullish on bitcoin after President-elect Donald Trump won the election on Nov. 5 on the expectations of a more relaxed regulatory environment. Investors have also poured into leveraged Microstrategy ETFs, according to a research note from JPMorgan on Wednesday. A leveraged exchange traded fund can amplify the potential gains of an underlying index through by holding debt; as a result, it is also viewed as a higher-risk investment fund.
"The inflows into leveraged MicroStrategy ETFs accounted for almost a third of the record high $11bn inflow into overall crypto funds in November," strategist Nikolaos Panigirtzoglou said in the note. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyDolton will soon be without a police chief while mayor says she will be victorious in bid for second term
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Source: CoinDesk - 🏆 291. / 63 Read more »