Bitcoin Boom: Stocks Soar While Robinhood Sinks Like a Stone! 💸

by

Well, well, well! Look who’s back in the game! US crypto-linked stocks decided to throw a party alongside Bitcoin, closing the Monday trading day with a gain. Apparently, more publicly traded firms are adding Bitcoin to their treasure chests like it’s the latest must-have accessory. 💎

The big players in the crypto mining world, all four of them, and some major crypto firms closed with slight gains on June 10. It’s like they all got together and said, “Let’s make some money!”

Circle Internet Group (CRCL), the new kid on the Nasdaq block, saw its shares jump 7% during the day and then decided to keep the party going with a 2.2% rise after-hours, landing at $117.79. Meanwhile, Core Scientific Inc. (CORZ) closed up 4.27% with a little after-hours bump of 0.87%. CleanSpark Inc. (CLSK) and MARA Holdings Inc. (MARA) both climbed over 3% and decided to jump another 1% after-hours. Talk about a group effort!

Riot Platforms Inc. (RIOT) also joined the fun with a 2.74% gain and a 1.2% after-hours bump. It’s like a crypto family reunion, and everyone’s winning! 🎉

Bitcoin (BTC) itself climbed 4% over the last day to $110,150, inching closer to its May 22 peak of $112,000. All this while the US and China are holding trade talks in the UK. Who knew international diplomacy could be so profitable?

Bitcoin Chart

Meanwhile, the Bitcoin-buying giant MicroStrategy Inc. (MSTR) gained 4.71% before bumping more than 1% to $396.61. They must be feeling pretty good about their investment strategy!

Robinhood Sinks After Missing Out on the S&P 500 🚫

But wait! Not everyone is riding the crypto wave. Robinhood Markets Inc. (HOOD) decided to take a dive, sinking nearly 2% to $73.40 after the S&P Dow Jones Indices didn’t change the S&P 500’s membership on Friday. Ouch! Talk about a bad hair day!

Everyone thought Robinhood would be added to the prestigious group of 500 largest public companies in the US, which usually gives share prices a nice little boost. But nope! S&P Dow Jones decided to keep things as is during its quarterly rebalancing. Better luck next time, Robinhood!

Robinhood Chart

In contrast, rival trading platform eToro Group Ltd. (ETOR), which just went public less than a month ago, surged over 10.5% and continued to rise 2.4% after hours to $77.79. Meanwhile, crypto exchange Coinbase Global Inc. (COIN) had a modest 2% gain to $256.63. Looks like someone’s having a better day than Robinhood!

Public Companies Continue Scooping Bitcoin 🤑

This year’s Bitcoin rally has sparked a frenzy of public firms buying up the cryptocurrency, hoping to boost their share prices. It’s like a game of musical chairs, and everyone wants a seat!

The latest company to join the Bitcoin-buying trend is BitMine Immersion Technologies, Inc. (BMNR), which announced on Monday that it bought 100 BTC for the first time to hold in reserve after a Wednesday share offering that targeted an $18 million raise. They must be feeling pretty fancy!

BitMine Chart

Some companies that announced Bitcoin-buying plans have seen their share prices jump, but BitMine closed Monday trading down nearly 8.7%. They did manage to rebound slightly by 5.2% after hours to $7.25. So, not all hope is lost!

Meanwhile, shares in energy-management firm KULR Technology Group, Inc. (KULR) rose 4.2% after it said on Monday that it bought another $13 million worth of Bitcoin, bringing its total holdings to 920 Bitcoin at an average purchase price of $98,760 per coin. Talk about a serious investment strategy!

Read More

2025-06-10 07:28