Why Bitcoin- and Ethereum-Linked Stocks Are Soaring Today – Marathon Digital Holdings (NASDAQ: MARA)

shares of several crypto-related stocks including Marathon Digital Holdings Inc. hit, Riot Blockchain Inc riot And MicroStrategy Inc MSTR Cryptos are trading higher on Thursday amid a surge in markets that have posted gains Bitcoin BTC/USD And Ethereum ETH/USD,

The cryptocurrency market rallied last week alongside broader risk assets as investors continue to digest inflation data and assess the Federal Reserve’s next move.

SPDR S&P 500 Detective The Consumer Price Index rose 6.5% in December, in line with average economist estimates, the Labor Department said, running higher Thursday morning.

It is unclear whether Thursday’s improving data will be enough to ease the central bank down the pace of rate hikes. However, the crypto market has been posting gains along with traditional markets since the print.

Check it out: Inflation falls in December, stocks struggle to find direction: What you need to know

Marathon Digital is engaged in the mining of digital assets. The stock was up 11.4% at last check.

Riot Blockchain focuses on building, supporting and operating blockchain technologies. Shares were up 6.5% Thursday morning.

MicroStrategy is a business intelligence, mobile software and cloud-based services company. More than anything else, this is a bet on bitcoin, as the firm holds over 130,000 bitcoins. MicroStrategy shares were up 3.85% at the time of writing.

See also: Bitcoin vs Ethereum: What’s the difference?

$BTC, $ETH Price Action: At the time of publication, bitcoin was up 5.09% over the 24-hour period at $18,306 and Ethereum was up 5.38% at $1,404.27.

photo: Ricardo Goncalves From pixabay.

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