Crypto Stocks Show Why They’re Among the Riskiest of Risk Assets
— Wide, Stronghold digital mining inc, Coinbase global inc ., touted last year, Taking little comfort, Financial markets, Coins, Best ways, Crypto curious stock investors, Proxy, Theyre — 1 min read
Coinbase Global Inc., touted last year as one of the best ways to gain exposure to crypto when it was first listed on Nasdaq, has tumbled 75% since December. MicroStategy Inc. is down 62%, or more than Bitcoin, for which the software company has been seen a proxy for since Chief Executive Michael Saylor loaded up its balance sheet with the coins. Digital token mining leaders Marathon Digital Holdings Inc. and Riot Blockchain Inc. are down similar amounts, while smaller rivals such as Stronghold Digital Mining Inc. have plunged even more. The sector has underperformed just about every other risky corner of the financial markets this year by a wide margin, with the sector underperforming just about. by a large margin of this year. Source