<![CDATA[The Bitcoin crash has caused cryptocurrency stocks to plummet]]> https://usagag.com/2022/06/13/the-bitcoin-crash-has-caused-cryptocurrency-stocks-to-plummet/ Mon, 13 Jun 2022 16:18:00 +0000 hourly 1 https://usagag.com The Bitcoin crash has caused cryptocurrency stocks to plummet The stock plunged more than 20% in pre-hours trading, led by business analytics firm MicroStrategy, the world's largest corporate holder of bitcoin, which is still worth $3 billion, and is down 23.18 percent today.

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Coinbase, which is down 10.7 percent on the day, and bitcoin miners Marathon and Riot, which are down 9.95 percent and 8.32 percent, respectively, are also suffering.

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Historically, crypto stocks outperform bitcoin during bull markets and underperform during negative markets. While bitcoin is currently down about 50% year to date, each of these equities has lost between 67 and 80 percent in 2022, as seen below.

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