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<ul class="summary-list"><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> hit news highs of over $44,000 per coin on Monday before paring gains.</li><li>The rise in digital asset prices is driving crypto-related stocks to huge price appreciation.</li><li>The bullishness comes after <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> invested $1.5 billion into Bitcoin and said it may begin accepting the currency as payment.</li></ul>Cryptocurrency-related stocks skyrocketed on Monday as <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest">Bitcoin</a> tested new highs of over $44,000 per coin before paring gains. The rise in digital asset prices came after news broke that <a href="https://markets.businessinsider.com/currencies/news/tesla-buys-bitcoin-elon-musk-stock-accept-form-of-payment-2021-2-1030055107">Tesla invested $1.5 billion into Bitcoin</a> and may begin accepting the currency as a form of payment in the future.Across the board, cryptocurrency-related stocks jumped in response. <keyword id="1926395" type="PERSON" weightage="60" keywordseo="Bitcoin-miners">Bitcoin miners</keyword> like <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Patent Group</a> and <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a> saw gains of as much as 33% and 31%, respectively, while <a href="https://markets.businessinsider.com/stocks/gbtc-stock">Grayscale Bitcoin Trust</a>-a digital currency investment vehicle-rose as much as 16%.Even companies that don't directly deal with bitcoin but have been associated with the digital asset saw their shares rise.<a href="https://markets.businessinsider.com/stocks/mstr-stock">MicroStrategy</a>, a company that provides business intelligence, mobile software, and cloud-based services, was up as much as 18% on Monday. The firm said recently that it <a href="https://markets.businessinsider.com/news/stocks/bitcoin-price-bounces-above-$32k-as-microstrategy-buys-the-dip-with-$10m-9722779">made large Bitcoin acquisitions</a> amid a pullback in prices.Read More: <a href="https://www.businessinsider.com/ipo-boom-bubble-investing-strategy-picks-risks-etf-renaissance-capital-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Wall Street's resident IPO expert shares the strategy behind her ETF that returned 107% last year - plus 3 risks to the current IPO boom and 5 offerings to watch this year</a>.Cryptocurrency investors are responding to more institutional interest in Bitcoin and other digital assets. While the <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> news is the main driver of the surge, other institutional investors are also eyeing the token and bolstering prices.The $2.7 billion, top 2% performing Miller Opportunity Trust, run by famed fund manager Bill Miller, said it might indirectly invest in Bitcoin through the <keyword id="10357565" type="UNKNOWN" weightage="60" keywordseo="grayscale-bitcoin-trust">Grayscale Bitcoin Trust</keyword> (<a href="https://seekingalpha.com/symbol/GBTC?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link">GBTC</a>), <a href="https://www.bloomberg.com/news/articles/2021-02-08/bill-miller-to-allow-opportunity-fund-to-buy-into-bitcoin-trust?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link&amp;sref=DWzi38c2&amp;srnd=premium=premium">per Bloomberg</a>.California Public Employees' Retirement System also entered the crypto fray, buying 113,034 shares in the bitcoin miner Riot Blockchain at the end of 2020, according to <a href="https://www.sec.gov/Archives/edgar/data/0000919079/000156761921001941/xslForm13F_X01/form13fInfoTable.xml">regulatory filings</a>.And even <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> may be in the market for Bitcoin going forward, according to RBC Capital analyst Mitch Steves."If the firm decides to enter into the crypto exchange business (multi-billion dollar industry), we think the firm could immediately gain market share and disrupt the industry (while simultaneously making the USA a leader in crypto for the next 10-20 years)," Steves said in a note to clients on Monday.Bitcoin had taken a back seat to <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a>, <a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a>, and other popular stocks over the past few weeks amid a <a href="https://www.businessinsider.com/gamestop-example-of-internet-rage-going-mainstream-gamergate-qanon-2021-2">Reddit-trader frenzy</a> on shorted-stocks. But as that trade begins to fade, all eyes are back on Crypto.Read More: <a href="https://www.businessinsider.com/stock-market-analysis-key-changes-market-dynamics-reflation-goldman-sachs-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Goldman Sachs says the reflation trade is on, and these 5 market dynamics that could 'shift materially' as price pressures build</a>

Cryptocurrency stocks skyrocket as Bitcoin tests new highs

<ul class="summary-list"><li>Cryptocurrency miners are soaring on Friday as <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword> recovers from its recent fall.</li><li>Shares of <keyword id="4364057" type="PERSON" weightage="60" keywordseo="marathon-patent-group">Marathon Patent Group</keyword>, <keyword id="5304583" type="PERSON" weightage="60" keywordseo="riot-blockchain">Riot Blockchain</keyword>, and <keyword id="10675150" type="UNKNOWN" weightage="60" keywordseo="bit-digital">Bit Digital</keyword> all jumped double digits on Friday before paring gains.</li><li>Bitcoin was up as much as 15% before falling slightly.</li></ul>Crypto mining stocks-including Marathon Patent Group, Riot Blockchain, Bit Digital, and others-are soaring on Friday as Bitcoin's recovery continues.Crypto miners saw their share prices plummet through January after Bitcoin fell from January 8 highs of over $40,000, momentarily dropping below $30,000 this week for the first time since Jan 2.In the past two days though Bitcoin has recovered over 20%, and crypto mining stocks are soaring in response.Shares of Marathon Patent Group were up as much as 20%, Bit Digital was up as much as 18%, and Riot Blockchain was up as much as 21% on the day before the stocks pared gains.Bitcoin was up as much as 15%.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-expected-outperform-earnings-2022-morgan-stanley-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 17 stocks with strong earnings that are expected to outperform into 2022 even if the broader market sinks</a>The big jump for crypto miners and for Bitcoin comes after the US <keyword id="6355253" type="UNKNOWN" weightage="60" keywordseo="federal-reserve">Federal Reserve</keyword> <a href="https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm">said on Wednesday</a> they plan to keep monetary conditions at historically accommodative levels."In terms of tapering, it's just premature," Powell said. "We said we'd want to see substantial, further progress towards our goals before we modify our asset purchase guidance. It's just too early to be talking about dates. We need to see actual progress." The move by the federal reserve is a big boost for Bitcoin, which is often seen as a hedge against fiscal and monetary imprudence.Oki Matsumoto, CEO of Monex Group, <a href="https://www.coindesk.com/bitcoin-and-inflation-everything-you-need-to-know">told CoinDesk</a>, "there's a crazy amount of money being printed right now, so the value of money is going down. Assets with limited supply, like bitcoin, real estate or shares/stocks, those price tags are going up,"Bitcoin's move higher on Friday was also helped by <keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword>, CEO of Tesla, including <a href="https://www.businessinsider.com/bitcoin-price-billionaire-elon-musk-changes-twitter-bio-to-bitcoin-2021-1">#Bitcoin in his Twitter bio</a>.Read More: <a href="https://www.businessinsider.com/stock-market-short-squeeze-reddit-day-trading-advice-ally-invest-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">A chief investment strategist breaks down how the GameStop saga could upend long-standing practices on Wall Street - and shares her 4-part advice for navigating the frenzied trading environment</a>The bullish news for crypto miners is valuable to those who bought the recent dip in the cryptocurrency. Marathon Patent Group was able to net strong gains after the company <a href="https://www.businessinsider.com/buy-bitcoin-dip-marathon-patent-group-pours-millions-btc-2021-1">purchased some $150 million in bitcoin</a> at an average price of $31,167.79 per coin, the company announced earlier this week.Merrick Okamoto, Marathon's CEO and chairman, said in a statement after the purchase, "we also believe that holding part of our Treasury reserves in bitcoin will be a better long-term strategy than holding US Dollars," so far Okamoto has been right.Based on today's prices, the 4,812.66 BTC that Marathon bought will be worth over $180 million.Still, Bitcoin bears are still out there, despite the latest jump higher.Gabriel Makhlouf, a European Central Bank governing council member, even said Bitcoin investors need to be prepared to "lose all their money," <a href="https://www.bloomberg.com/news/articles/2021-01-29/bitcoin-investors-may-lose-everything-central-banker-warns">per Bloomberg.</a>Shares of Marathon Patent Group traded at $21.55 as of 11:36 AM EST, while Riot Blockchain and Bit Digital traded at $21.45 and $20.80 respectively.

Bitcoin's spike drives rebound in hard-hit crypto mining stocks

<ul class="summary-list"><li><keyword id="4364057" type="PERSON" weightage="60" keywordseo="marathon-patent-group">Marathon Patent Group</keyword> announced the purchase 4,812.66 BTC on Monday.</li><li>The transaction, handled by NYDIG, was worth $150 million.</li><li>By the end of the first quarter of 2022, <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> miner Marathon expects to own and operate over 100,000 <keyword id="1926395" type="PERSON" weightage="60" keywordseo="Bitcoin-miners">bitcoin miners</keyword>.</li></ul>Cryptocurrency miner <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Patent Group</a> announced on Monday it purchased $150 million of <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> after the cryptocurrency fell from historic highs of over $40,000.The company bought 4,812.66 BTC at an implied average price of $31,167.79 per coin in the transaction, which was enabled by NYDIG, a leading technology, and financial services firm dedicated to bitcoin."By purchasing $150 million worth of bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class," said Merrick Okamoto, Marathon's chairman &amp; CEO."We also believe that holding part of our Treasury reserves in bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like <keyword id="2430955" type="COMPANY" weightage="60" keywordseo="MicroStrategy">MicroStrategy</keyword>." <a href="https://markets.businessinsider.com/stocks/mstr-stock">MicroStrategy</a>, a business intelligence, mobile software, and cloud-based services company, has been leading the charge into bitcoin for some time. The company announced yet another purchase of roughly 314 bitcoins for $10 million on Monday.That purchase brought MicroStrategy's total holdings to 70,784 bitcoins worth some $2.38 billion at current prices. The company has now netted over $1 billion from its bitcoin investments after buying the currency at an average price of $16,035 per coin.Read more: <a href="https://www.businessinsider.com/bitcoin-investing-strategy-michael-saylor-explains-billion-dollar-crypto-bet-2021-1?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=insider_investing&amp;utm_campaign=Post%20Blast%20moneygame:%20Crypto%20whale%20lays%20out%20bitcoin%27s%20bull%20case%20%E2%80%94%20Cathie%20Wood%27s%202021%20forecasts%20%E2%80%94%20How%20to%20pick%20tiny%20biotech%20winners&amp;utm_term=INSIDER%20INVESTING%20-%20ENGAGED%2C%20ACTIVE%2C%20PASSIVE%2C%20DISENGAGED%2C%20NEW?utm_source=markets&amp;utm_medium=ingestts&amp;utm_medium=ingest" target="_blank" rel="noopener">Michael Saylor has invested over $1 billion of MicroStrategy's funds in Bitcoin. He explains why he is making such a massive bet on the digital asset.</a>While Marathon doesn't boast the same level of bitcoin wealth just yet, the company is currently contracted to purchase 103,060 bitcoin miners, which will be operational by the end of the first quarter of fiscal 2022.At today's <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> difficulty rate, that would mean Marathon could produce a potential 55-60 bitcoins per day.This news comes after <a href="https://markets.businessinsider.com/currencies/news/bitcoin-etp-boss-says-institutional-investors-supporting-the-price-2021-1-1029996516?utm_source=markets&amp;utm_medium=ingestgest">bitcoin spiked</a> through early January to a record-high of nearly $42,000 per coin, before profit-taking and bearish news dragged prices down.The cryptocurrency <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-double-spend-flaw-critical-report-suggests-2021-1-1029990921?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">struggled last week</a> after a BitMEX Research report suggested a flaw allowed for a "double-spend," when a <a href="https://www.businessinsider.com/bitcoin-whales-the-key-facts-figures-you-need-to-know-2021-1?utm_source=markets&amp;utm_medium=ingestgest">user ends up being allowed to spend</a> the same bitcoin twice.Commentary from <a href="https://www.businessinsider.com/janet-yellen-unlikely-revive-federal-reserve-lending-programs-coronavirus-stimulus-2021-1?utm_source=markets&amp;utm_medium=ingestgest">Treasury Secretary-designate Janet Yellen</a> also hurt bitcoin's momentum. On Wednesday, the former Federal Reserve chairwoman said the government should consider regulating cryptocurrencies to prevent their use in illicit financing.The pace of flows into the <a href="https://markets.businessinsider.com/stocks/gbtc-stock">Grayscale Bitcoin Trust</a> also "appears to have peaked," according to JPMorgan strategists led by Nikolaos Panigirtzoglou."At the moment, the institutional flow impulse behind the Grayscale Bitcoin Trust is not strong enough for Bitcoin to break out above $40,000. The near-term balance of risks is still skewed to the downside," JPMorgan strategists said, <a href="https://www.bloomberg.com/news/articles/2021-01-25/bitcoin-return-to-40-000-in-doubt-as-grayscale-fund-flows-slow">per Bloomberg</a>.Read more: <a href="https://newsletter.businessinsider.com/click/22743918.38543/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9jYXRoaWUtd29vZC1zaGFyZXMtMjAyMS1vdXRsb29rcy1vbi10ZXNsYS1lY29ub215LWJpdGNvaW4tYXJrLTIwMjEtMT9ucl9lbWFpbF9yZWZlcmVyPTEmdXRtX3NvdXJjZT1TYWlsdGhydSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jb250ZW50PWluc2lkZXJfaW52ZXN0aW5n/5d0cd4a524c17c4d6716770bH62f6a38f?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Cathie Wood's ARK Invest runs 5 active ETFs that more than doubled in 2020. She and her analysts share their 2021 outlooks on the economy, Bitcoin, and Tesla.</a>Despite the bearish tone from JPMorgan and falling bitcoin prices, Marathon, MicroStrategy, and others are staying the course when it comes to the cryptocurrency, buying up reserves when they can.Shares of Marathon Patent were down 2.13% on Monday as of 3:27 PM EST, giving the crypto miner a market cap of $1.68 billion.

Crypto miner Marathon Patent Group pours $150 million into bitcoin as the token pulls back from record highs

<ul class="summary-list"><li><keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">Bitcoin</keyword>'s first big pullback of the year is hurting cryptocurrency miners on Monday.</li><li>Shares of <keyword id="5304583" type="PERSON" weightage="60" keywordseo="riot-blockchain">Riot Blockchain</keyword> and <keyword id="4364057" type="PERSON" weightage="60" keywordseo="marathon-patent-group">Marathon Patent Group</keyword> have fallen over 15% on the back of Bitcoin's pullback.</li><li><keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">Bitcoin mining</keyword> is now more popular, and more difficult, than ever before according to <a href="https://www.coindesk.com/bitcoin-mining-difficulty-record-20-trillion-january-2021">data from CoinDesk.</a></li></ul>Shares of Cryptocurrency miners <a href="https://markets.businessinsider.com/stocks/riot-stock?utm_source=markets&amp;utm_medium=ingestgest">Riot Blockchain</a> and <a href="https://markets.businessinsider.com/stocks/mara-stock?utm_source=markets&amp;utm_medium=ingestgest">Marathon Patent Group</a> are taking the brunt of <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest">bitcoin's</a> fall on Monday.Both stocks are down over 15% following bitcoin's tumble from over $40,000 to under $33,000 per coin. The slide wiped some $170 billion off of total cryptocurrency market value in just a few days.As of Monday morning, the decline is the largest drop for <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> since their historic run began back in October.The bitcoin sell-off comes after months of gains for cryptocurrencies and may signal some profit-taking, according to Simons Chen, executive director of investment and trading at cryptocurrency financial services firm Babel Finance.Chen said in a statement, "the correction we saw was expected as we believe the BTC price surge recently from under $20,000 to $40,000 in the past four weeks will induce sell pressure," <a href="https://www.cnbc.com/2021/01/11/bitcoin-btc-price-nearly-170-billion-wiped-off-entire-cryptocurrency-market.html">per CNBC.</a>Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-2021-top-earnings-growth-jpmorgan-2020-12?utm_source=markets&amp;utm_medium=ingestgest">JPMorgan says stocks are primed for sustained gains in a way they haven't been in years - and identifies 43 names to buy for above-average earnings growth in 2021</a>However, according to the Bitcoin bulls, there's still room for the cryptocurrency to run."It's probably going to $100,000, then $150,000, then $200,000," Social Capital's Chamath Palihapitiya argued on CNBC's "<a href="https://www.cnbc.com/halftime/">Halftime Report</a> last Friday.Others, including economist David Rosenberg, argue <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-bubble-david-rosenberg-supply-mining-cryptocurrency-outlook-record-high-2020-12-1029903485">Bitcoin is nothing more than a "massive bubble"</a> that investors just don't understand.Bubble or not, Bitcoin miners <a href="https://markets.businessinsider.com/currencies/news/bitcoin-mining-stocks-marathon-patent-group-riot-blockchain-record-miners-2020-12-1029921575">saw unprecedented gains</a> in recent months.Shares of Riot Blockchain went from trading at under $10 per share in early December to around $22 per share on Monday. And shares of Marathon Patent Group traded at under $5 per share in early December vs. over $21 per share as of Monday morning.The rapid price appreciation among crypto miners came on the back of mining revenue <a href="https://www.coindesk.com/bitcoin-miners-daily-revenue-terahash-hashprice">tripling in recent months.</a>Unfortunately for public Bitcoin miners, the crypto gold rush also brought new competition to the industry, making mining for bitcoin more difficult, and d<a href="https://www.coindesk.com/bitcoin-mining-difficulty-record-20-trillion-january-2021">ata from Coindesk</a> shows cryptocurrency mining is more popular and harder than ever before.This has also put a strain on hardware suppliers in the industry, according to Edward Evenson, business development lead at Braiins, a mining software company."ASIC manufacturers have had to turn away more than half a billion dollars in mining equipment orders in Q4 2020 alone. Hardware supply chains are currently overloaded by immense demand," Evenson said.The good news for Riot Blockchain and Marathon Patent Group shareholders is the companies have already placed pre-orders for 31,000 and 90,000 crypt mining machines, respectively, through 2020.Still, if Bitcoin prices don't stabilize, these highly correlated stocks could continue their fall in 2021.

Crypto mining stocks plummet as Bitcoin falls from historic highs

<ul><li>The bitcoin-mining companies <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a> and <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Patent Group</a> soared on Monday morning as investors anticipate <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>'s rally will continue into 2021.</li><li>Both mining companies recently announced purchases of more bitcoin-mining equipment. On Monday, Marathon said it would purchase 70,000 miners for $170 million from Bitmain.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> hit a record high on Sunday, jumping past $28,000 for the first time.</li><li><a href="https://www.businessinsider.com/?IR=C?utm_source=markets&amp;utm_medium=ingestgest">View Business Insider's homepage for more stories</a>.</li></ul>Shares of the <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a>-mining companies <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a> and <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Patent Group</a> soared on Monday morning following bitcoin's rally over the holiday weekend.Bitcoin briefly jumped past $28,000 on Sunday, one day after it passed $27,000 for the first time. The cryptocurrency traded at about $27,240 on Monday.As bitcoin's price increases, bitcoin-mining devices become more difficult and expensive to procure. In recent days, bitcoin-mining companies have announced major purchases of new equipment.Riot gained as much as 18% shortly after the opening bell on Monday: Shares jumped to as high as $15.49 after closing at $13.12 on Christmas Eve. Marathon jumped as much as 28%, to $14.Marathon on Monday <a href="https://www.globenewswire.com/news-release/2020/12/28/2150886/0/en/Marathon-Patent-Group-Purchases-70-000-S-19-ASIC-Miners-from-Bitmain-for-170-Million.html">announced</a> it would purchase 70,000 mining rigs called Antminers from Bitmain for $170 million. Marathon said that once the transaction is complete, it will have a fleet of over 103,000 miners.Read more: <a href="https://www.businessinsider.com/stock-market-risks-what-factors-could-cause-next-crash-2021-2020-12">Wall Street's biggest firms are warning that these 8 things could crash the stock market's party in 2021</a>Last week, Riot said it would purchase 15,000 miners, <a href="https://thecryptoreport.com/riot-blockchain-buys-15k-bitmain-antminers-expects-65-hash-rate-increase/">according to The Crypto Report</a>. Riot said the addition would increase the cost efficiency of <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> and keep it competitive as mining hardware becomes scarcer.Shares of the microgrid software company <a href="https://markets.businessinsider.com/stocks/clsk-stock">CleanSpark</a> gained as much as 16% on Monday as well. Last week, CleanSpark <a href="https://www.prnewswire.com/news-releases/cleanspark-announces-additional-1-000-unit-asic-bitcoin-miner-order-for-january-delivery-301197386.html">announced</a> that it would add 1,000 bitcoin miners to its fleet.

Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time

<ul class="summary-list"><li><keyword id="6354947" type="General" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> tested the key $50,000 support level on Wednesday but quickly recovered.</li><li>The cryptocurrency was down roughly 16% from its March 13 record highs before a rebound.</li><li><keyword id="10975637" type="General" weightage="60" keywordseo="bitcoin-mining-stocks" source="Orion">Bitcoin mining stocks</keyword>, which are highly correlated to the price of BTC, all fell on Wednesday before mounting a recovery.</li></ul>Cryptocurrency mining stocks had a tough day on Wednesday as <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> tested its key $50,000 support level. Shares of <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a>, <a href="https://markets.businessinsider.com/stocks/mara-stock">Marathon Digital Holdings</a> (formerly <a href="https://www.marathondh.com/news/press-releases/detail/1227/marathon-patent-group-announces-name-change-to-marathon">Marathon Patent Group</a>), <a href="https://markets.businessinsider.com/stocks/hive_blockchain_technologies/price/%7Banotherid%7D/%7Byetanotherid%7D">Hive Blockchain</a>, <a href="https://markets.businessinsider.com/stocks/hutmf-stock?utm_source=markets&amp;utm_medium=ingestgest">Hut 8</a>, and <a href="https://markets.businessinsider.com/stocks/btbt-stock">BitDigital</a> all fell on the day before mounting a recovery. Bitcoin fell to a low of $50,305 on the day before pushing back above the $52,000 level. Despite recent bullish news, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">bitcoin</a> has struggled to find price support over the past week. On Wednesday, Elon Musk said Tesla would <a href="https://www.businessinsider.com/elon-musk-tweets-you-can-buy-a-tesla-with-bitcoin-2021-3">accept bitcoin</a> as a form of payment in a Tweet. The news caused bitcoin's price to jump 5%, but it quickly fell back down. That's a big change from when Tesla announced its $1.5 billion bitcoin buy back in February and <a href="https://www.businessinsider.com/bitcoin-price-record-high-48000-elon-musk-tesla-michael-novogratz-2021-2">bitcoin's price shot up to record highs</a> in a sustained move. In other bullish news for bitcoin, Jordan Belfort, known as the inspiration behind the movie "Wolf on Wall Street," said he believes <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-prediction-wolf-of-wall-street-jordan-belfort-100000-2021-3-1030241511">bitcoin will hit $100,000</a> per coin in a recent interview with Fortune. <keyword id="1926395" type="PERSON" weightage="60" keywordseo="Bitcoin-miners" source="Orion">Bitcoin miners</keyword> also got a boost last week when Leeor Shimron, Fundstrat's vice president of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial">digital asset</a> strategy, told investors that <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining" source="Orion">bitcoin mining</keyword> stocks could continue to <a href="https://markets.businessinsider.com/news/stocks/cryptocurrency-mining-stocks-outperform-bitcoin-price-fundstrat-riot-blockchain-marathon-2021-3-1030233235">outperform bitcoin</a> amid a "modern-age gold rush." "Over the past year, they greatly outperformed Bitcoin, which accelerated when the $20,000 all-time high was breached," Shimron said. "We expect this dynamic to continue as the bull market plays out." However, there has been some bearish bitcoin news of late as well. Crypto analysts at Glassnode found that there had been a pickup in "wealth transfers" from long-term bitcoin holders to newer speculators in their <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-crash-late-stage-bull-market-glassnode-btc-plunge-2021-3-1030236114">weekly analysis</a>, which the company said was reminiscent of market peaks of the past. Additionally, in a <a href="https://www.bloomberg.com/opinion/articles/2021-03-24/bitcoin-miners-are-on-a-path-to-self-destruction">Bloomberg opinion column</a>, Noah Smith said he believes other counties "will follow Inner Mongolia's lead and ban Bitcoin mining" due to its ever-increasing energy consumption. Still, US Bitcoin miners continue to expand their hash rate mining capacity by adding new machines. Riot Blockchain <a href="https://www.riotblockchain.com/news-media/press-releases/detail/100/riot-blockchain-announces-production-and-operations-updates">purchased an additional</a> 1,500 S19j (90 TH) Pro Antminers from Bitmain on March 15. And Marathon Digital Holdings announced it will hit a hash rate mining capacity of 1.4 EH/s (exahash per second) by the end of March after 10,300 S-19 Pro ASIC miners were shipped to the company over the past month. US-based miners are adding capacity so rapidly that the country has been expanding its total market share of bitcoin mining operations. According to <a href="https://cbeci.org/mining_map/">data from the University of Cambridge</a>, US bitcoin mining market share went from 4.06% in the third quarter of 2019 to 7.24% in the second quarter of 2020.

Bitcoin mining stocks sink as the cryptocurrency tests key $50,000 support level

<ul class="summary-list"><li>Bitcoin struggled to regain the $50,000 per coin support level in the latter half of this week.</li><li>The bitcoin pullback led to a sharp drop in share price of in crypto mining companies.</li><li>Marathon Patent Group, Riot Blockchain, and Hive Blockchain technologies all sank double digits in percentage terms on Friday.</li></ul>Bitcoin-mining stocks sank across the board on Friday as the cryptocurrency struggled to reclaim the $50,000 per-coin level.Shares of <a href="https://markets.businessinsider.com/stocks/marathon_patent_group_3-stock?fn=1">Marathon Patent Group</a>, <a href="https://markets.businessinsider.com/stocks/riot-stock">Riot Blockchain</a>, and <a href="https://markets.businessinsider.com/stocks/hvbtf-stock">Hive Blockchain Technologies</a> all dropped double digits in percentage terms on the day.Companies associated with bitcoin, including Michael Saylor's <a href="https://markets.businessinsider.com/stocks/mstr-stock">MicroStrategy</a> also fell as much as 13% and 15%, respectively.Bitcoin is now down nearly 20% from its February 21 record high of $58,332.36. Still, the cryptocurrency has risen roughly 425% over the past year.Despite falling share prices and bitcoin's recent drop, cryptocurrency miners continued to add to their mining capacity over the past few months.On February 1, Marathon Patent Group announced Bitmain had added 4,000 S-19 Pro Antminers to the firm, more than doubling the amount of Antminer's the company had. The new additions will push Marathon's mining capacity to 1.4 exahash per second by the end of March.On February 11, Riot Blockchain announced it will achieve an estimated hash rate mining capacity of 1.06 exahash per second with the deployment of its newly received 2,002 S19 Pro Antminers.And Hive Blockchain Technologies announced it doubled bitcoin mining capacity in <a href="https://www.hiveblockchain.com/investors/reporting">a March 2 earnings</a> report for the third quarter of the fiscal year 2021.Although bitcoin miners continue to make significant progress on their mining capacity, their valuations may have become stretched in many investors' eyes.Marathon Patent Group trades at 258x trailing 12-month sales. While Riot Blockchain trades at 183x sales and Hive Blockchain Technologies trades at 33x sales.For reference, the S&amp;P 500, which tracks the performance of the 500 largest companies in the market, trades at 2.7x trailing 12-month sales.

Bitcoin-mining stocks sink as the cryptocurrency struggles to reclaim $50,000 level

<ul class="summary-list"><li><a href="https://www.instagram.com/billperkins/">Bill Perkins</a> is the CEO of BrisaMax Holdings; after training on Wall Street, Perkins made his fortune in Houston as an energy trader.</li><li>The following is an <keyword id="1591634" type="PERSON" weightage="60" keywordseo="Excerpt">excerpt</keyword> from his new book, "<a href="https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358099765">Die with Zero: Getting All You Can from Your Money and Your Life</a>."</li><li>In it, he describes how the "time bucket" approach can help you plan the <keyword id="49370" type="PERSON" weightage="60" keywordseo="experiences">experiences</keyword> you want to have in life, and discover more about yourself.</li><li>Draw out a timeline of your life with different intervals, and create a list of the experiences you definitely want to have; drop them into the interval that feels right.</li><li>Don't focus on money, and instead focus on the experiences that are meaningful to you.</li></ul>Time buckets are a simple tool for discovering what you want your life to look like in broad strokes. Here's what I suggest you do. Draw a timeline of your life from now to the grave, then divide it into intervals of five or ten years. Each of those intervals — say, from age 30 to 40, or from 70 to 75 — is a time bucket, which is just a random grouping of years.Then think about what key experiences — activities or events — you definitely want to have during your lifetime. We all have dreams in life, but I have found that it's extremely helpful to actually write them all down in a list. It doesn't have to be a complete list; in fact, you can't know right now everything you'll ever want to do, because, as you know, new experiences and new people you meet tend to reveal unexpected additional interests that you'll want to pursue. Life is all about discovery. And you will revisit this list later in life, too.But I'm sure you already have some ideas about which experiences you'd want to have at some point, some perhaps more than once. For example, you might want to have a child, run the Boston Marathon, hike the Himalayas, build a house, file a patent, start a business, volunteer for Doctors Without Borders, dine at a Michelin-star restaurant, attend the Sundance Film Festival, go skiing 50 times, go to the opera, take a cruise to Alaska, read 20 classic novels, attend the Super Bowl, compete in a Scrabble tournament, visit Yellowstone, see autumn in Vermont, take your kids to Disneyland three times, and so on. You get the idea. Be as creative as you want.Your list will be your own unique expression of who you are, because your life experiences are what make you who you are. Key point: As you're making your list, don't worry about money; money at this point is just a distraction from the overall goal, which is to envision what you want your life to be like.Then, once you have your list of items, start to drop each of your hoped-for pursuits into the specific buckets, based on when you'd ideally have each experience. For example, if you want to go skiing 50 times in your life, during which decades or five-year buckets would you like to have those ski days? Here, too, don't think about money just yet — rather, think about the point in your life when you'd really like to have each experience.Some of these bucketing decisions will be easier than others. In fact, you probably already have a decent idea of some of the wonderful experiences you'd like to enjoy in your lifetime. As for your other "wish list" items, well, for example, you can always travel to a faraway place. But as we've noted, it's always easier to travel when you're in your forties or fifties than when you're in your seventies or eighties. The point is, today's the day to start actively and consciously thinking and planning for your years ahead.<div type="image" title="time buckets" height="300" width="825" msid="77222664" hostid="261"></div>In general, using the time-buckets approach will make you begin to realize that some experiences are better done at certain ages. Mountain climbing and attending loud concerts, for example, are much more fun when you're younger. Not surprisingly, the most physically demanding activities tend to fall on the left (younger) side of the timeline. You probably won't be skiing much at 80. Yes, some people run the Boston Marathon in their seventies, and one exceptionally fit woman named Katherine Beiers completed the race when she was 85. But these individuals, of course, are outliers. And even for Beiers, the marathon at 85 was not her first — but her 14th.<h2>A season for everything: Time buckets vs. a <keyword id="699757" type="PERSON" weightage="60" keywordseo="Bucket-list">bucket list</keyword></h2>As you go through this bucket exercise, you'll come to see for yourself that there's a season for everything. That being said, you might begin to sense that some desired experiences conflict with other experiences. Or you might realize that some of the activities you want to do won't happen at all unless you begin to plan for them now.And just to clarify: This list is the opposite of the so-called bucket list, which is typically a single accounting of all the things you hope to do before you "kick the bucket," so to speak. The more traditional bucket list is usually put together by an older individual who, when confronted with their mortality, begins to scratch out a list of activities and pursuits they not only haven't done yet but now feel compelled to do quickly, before time runs out.By contrast, by dividing goals into time buckets, you are taking a much more proactive approach to your life. In effect, you're looking ahead over several coming decades of your life and trying to plan out all the various activities, events, and experiences you'd like to have. Time buckets are proactive and let you plan your life; a bucket list, on the other hand, is a much more reactive effort in a sudden race against time.Now, you might notice as you fill up your time buckets that some experiences are more flexible than others. For example, you can still enjoy visiting libraries, watching classic movies, reading novels, and playing chess well into your old age. Taking a cruise can be enjoyable at just about any age. Still, as you start filling up your time buckets, you'll probably see that the experiences you want to have in life don't fall evenly across the ages. Instead, they naturally cluster during certain periods — taking on roughly the shape of the right side of a bell curve (see figure below).<div type="image" title="bell curve" height="262" width="825" msid="77222667" hostid="261"></div>As long as you're still ignoring the money factor, and still focusing primarily on your health and your free time, that bell will probably skew to the left — because you'll want to have most of your experiences (especially those with physically demanding activities) when you're at peak health to enjoy them, and before you're constrained by the demands of parenthood. If your life plan includes children, the experiences you want to have with them will cluster a little later, probably creating a peak around your thirties and forties. Again, all that's true even if you don't take the cost of experiences into consideration.Okay. Remember, we've been focusing only on two key components of your time buckets: your physical health and your life's dreams. We deliberately pushed financial concerns off to the side, because it's always too easy to blow off our dreams by simply saying, "Sounds really nice, but let's face it ... I can't afford that." Focusing on money distracts from the hard truth that time and health are fleeting.Excerpt from Die With Zero: Getting All You Can from Your Money and Your Life by Bill Perkins. Copyright © 2020 by William O. Perkins III. Available from Houghton Mifflin Harcourt. Used by permission of the publisher.

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Bitcoin mining stocks sink as the cryptocurrency tests key $50,000 support level

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Bitcoin-mining stocks sink as the cryptocurrency struggles to reclaim $50,000 level

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Forget the bucket list: Use 'time buckets' to plan a meaningful life

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