Explore our in-depth analysis of the extraordinary rise in cryptocurrency and mining stocks in 2023, with a focus on MARA, CLSK, RIOT, HUT, COIN, and MSTR.
Learn about their impressive gains that have outpaced Bitcoin's growth, and what experts predict for the future.
Contents
Significant Price Increases in MARA, CLSK, RIOT, HUT
As the cryptocurrency market continues to witness price increases, there's growing attention on stocks related to cryptocurrency exchanges and mining companies.
These cryptocurrency-related stocks have recorded price increases surpassing Bitcoin in 2023, although there's currently a trend towards profit-taking.
Bitcoin (BTC) was priced at $16,500 as of January 1, 2023, but has risen to $42,200 at the time of writing this article. This indicates that BTC has seen an approximate 156% increase in price over the year.
Representative stocks gaining attention for their higher increase than BTC are those of Bitcoin mining companies, with MARA, CLSK, RIOT, and HUT recording increases of 300% to 800% over the past year.
Mining-Related Stocks and Their 2023 Peak Increase Rates
| Mining Related Stocks | Rate of increase in 2023 (peak) |
|---|---|
| Marathon Digital Holdings (MARA): | Over 800% |
| CleanSpark (CLSK) | Over 500% |
| Riot Platforms (RIOT) | Over 400% |
| Hut 8 (HUT) | Over 300% |
On the last trading day of 2023, December 29th, a significant drop was observed due to profit-taking, but these stocks still recorded an increase of 200% to 600%, even including this downturn.
COIN & MSTR Stocks Also See Gains
Beyond mining-related stocks, significant price increases were also recorded in stocks like Coinbase (COIN), a major U.S. cryptocurrency exchange, and MicroStrategy (MSTR), known for its ongoing Bitcoin purchases.
Both COIN and MSTR experienced profit-taking on the 29th, but Coinbase recorded an increase of over 400% and MicroStrategy over 300% over the year.
In the cryptocurrency industry, there's growing anticipation for developments such as a physical Bitcoin ETF and the 2024 halving.
Many experts are predicting that "Bitcoin will surpass its all-time high around 2024-2025."
Given these factors, there's increasing optimism about the price increase of various cryptocurrencies within the community.
At the same time, there's significant growth seen in cryptocurrency-related companies, drawing considerable attention to their stock prices.
>> For the latest articles on price predictions, click here.
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