CLSK - Why Crypto Stocks Were Monster Winners on Monday
2024-03-25 18:45:30 ET
Although many investment professionals and other wise people caution us never to put all our eggs in one basket, at times the strategy can really pay off. On Monday, numerous publicly traded businesses dependent on a certain cryptocurrency saw sharp gains along with that foundational asset.
Crypto mining specialists Cleanspark (NASDAQ: CLSK) notched a nearly 20% gain, while its peer Riot Platforms (NASDAQ: RIOT) saw its share price improve by over 9%. Topping both was crypto ultra-bull Michael Saylor's Microstrategy (NASDAQ: MSTR) , which ended the day nearly 22% higher.
There are no prizes for guessing which star crypto each of those businesses depends on. Yes, it's Bitcoin (CRYPTO: BTC) , the coin that both Cleanspark and Riot Platforms enthusiastically mine, and Microstrategy feverishly pours its capital into buying.
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Why Crypto Stocks Were Monster Winners on Monday