MSTR - Crypto-Linked Stocks Coinbase And MicroStrategy Are Rising Wednesday: What's Going On? | Benzinga
Crypto-linked stocks including Coinbase Global Inc (NASDAQ:COIN) and MicroStrategy Inc (NASDAQ:MSTR) are trading higher Wednesday amid strength in Bitcoin (CRYPTO: BTC) following softer-than-expected CPI data for May.
What To Know: Bitcoin is up more than 4% over a 24-hour period, driving strength in the broader crypto space and crypto-related stocks.
The pop in crypto prices came immediately after the consumer price index (CPI) came in at 3.3% in May, below economist projections for 3.4%. On a month-over-month basis, CPI stayed flat, which was below expectations for a 0.1% increase.
Equity and crypto markets jumped in the wake ...