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Why Crypto Stocks Skyrocketed Higher This Week
CIFRCipher Mining (CIFR) The Motley Fool·2024-06-07 19:57

Crypto overall didn't move much, but Bitcoin had a great week. Bitcoin's reaction MicroStrategy has a leveraged position in Bitcoin so it's not surprising its stock price has exaggerated the move in Bitcoin. Cipher Mining will also see more revenue and higher margins if Bitcoin rises. The company also held 2,142 Bitcoins as of last month. While Bitcoin's bounce has been impressive, I'm more interested in the companies doing something innovative with the blockchain, like Coinbase, which benefits from higher ...