Bitcoin vs Miners, MSTR & COIN

by Ashraf Laidi
Jun 26, 2024 14:56

The top chart shows Bitcoin price in USD, while the bottom chart shows the % change in the stock of price of various crypto miners, Microstrategy (MSTR) the 3rd biggest company owner of Bitcoin and Coinbase (COIN) the crypto exchange. 

See how MSTR stock has outpaced all miners as well as Coinbase since the start of the year in percentage terms. Today, it is up 136% so far since the start of the year, while Bitcoin is up 45%.

Click To Enlarge
Click To Enlarge
Bitcoin vs Miners, MSTR & COIN - Crypto Miners Mstr June 26 2024 Since Jan 2024 (Chart 1)

The bottom chart shows Bitcoin vs MSTR on the top left and their correlation, which remained at a high 0.70-0.90 over the last 7 months.

Click To Enlarge
Click To Enlarge
Bitcoin vs Miners, MSTR & COIN - Crypto Miners Mstr June 26 2024 (Chart 2)

The right chart shows the % performances since January 2023 (not 2024), highlighting how IREN and MSTR are up 991% and 931% since Jan 3rd 2023 respectively, while Bitcoin is up 270% over the same period. 

 

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