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Seeking Alpha 2021-06-14 13:34:06

Coinbase, MicroStrategy, Riot Blockchain among stocks gaining as bitcoin hits $40K

Bitcoin (BTC-USD) retakes $40K after Elon Musk says Tesla will resume accepting the cryptocurrency for payment once bitcoin miners provide evidence that at least half of their energy usage is coming from "clean" sources.That's not only helping the world's largest crypto by market cap, but it's giving a boost to other cryptocurrencies, including ethereum (ETH-USD) +7.4% over the last 24 hours to $2,532; Binance Coin (BNB-USD) +10% to $368; Cardano (ADA-USD), +9.5% to $1.56, and dogecoin (DOGE-USD) +7.2% to 33 cents.That, in turn, helps a number of crypto-related stocks rise in early trading: Coinbase ([[COIN]] +3.2%), MicroStrategy ([[MSTR]] +7.6%), Marathon Digital Holdings ([[MARA]] +11.3%), Riot Blockchain ([[RIOT]] +9.4%); Bit Digital ([[BTBT]] +6.7%); Silvergate Capital ([[SI]] +4.0%).See why SA contributor Samuel Smith remains bullish on Coinbase even after Raymond James's bearish take.

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