Marathon, Riot stocks surge as Bitcoin climbs to $44k

December 20, 2023 10:51 AM PST | By Invezz

Marathon, Riot stocks surge as Bitcoin climbs to $44k — Image source: Invezz

Bitcoin mining stocks outperform BTC

Gains for Bitcoin mining stocks have come amid a strong bounce for BTC year-to-date. But while BTC has managed about 165% YTD, MARA and RIOT’s share prices have skyrocketed 590% and 417% respectively as of writing.

The outperformance comes as Bitcoin mining stocks rebound from the brutal crypto winter that saw a number file for bankruptcy protection. Sentiment across the industry is high ahead of Bitcoin’s upcoming halving and potential spike in demand helped by approval for the first spot Bitcoin ETF for the US market.

Today’s spike in BTC price came as it emerged the US Securities and Exchange Commission (SEC) had once again met with BlackRock and Nasdaq representatives. The latest reports suggest the engagement revolved around the regulatory considerations ahead of the highly anticipated spot Bitcoin ETF listing.

Some analysts are saying this could come as soon as January 10, 2024.

The post Marathon, Riot stocks surge as Bitcoin climbs to $44k appeared first on Invezz

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