[CryptoButthead.com, msc, mschro Jan, 2 2024] Yo, Ash and Booker here, wishin’ y’all a Happy New Year. Now, sit yerself down and let us tell ya ’bout the wild ride we’ve been seein’ in the stock and crypto markets as we kick off 2024.
First off, congrats on survivin’ 2023 – what a hootenanny that was for stocks and crypto, huh? But hold onto yer hats, ’cause we’re startin’ this year with a bang!
Today, we’re talkin’ ’bout two big dogs in the Bitcoin and crypto world – Coinbase and MicroStrategy. These fellers have seen their stocks shoot up faster than a jackrabbit in pre-market tradin’ today. And let me tell ya, it’s all hitched to the wagon of Bitcoin’s price breakout. That shiny coin’s been climbin’ like a squirrel up a tree, up ’bout 7% in the last 24 hours, and dang near kissin’ the $46,000 mark.
Coinbase, that big ol’ cryptocurrency exchange, saw its stock price jump up 6.4% to $184 in pre-market. That’s after closin’ 2023 at $173. Over the past month, their shares have ballooned by 36%, and over the past year, they’ve skyrocketed nearly 420%. But, don’t get too giddy – they’re still ’bout 46% below their all-time high from back in November 2021.
Then there’s MicroStrategy, known far and wide for holdin’ a heap of Bitcoin. Their shares have seen a 9.3% increase, hittin’ $690 in today’s pre-market tradin’. Endin’ last year at $631, their stock’s up 25% this past month and a whopping 372% over the last year.
Now, what’s kickin’ these stocks and Bitcoin into high gear? Well, it’s the buzz ’round them U.S. spot BTC ETFs. Folks are bettin’ these ETFs will make investin’ in Bitcoin slicker than a greased pig, with easier regulation and more appeal. That’s bound to boost Bitcoin’s presence and draw in more investors.
Bitcoin itself is sittin’ pretty at $45,320, up 7% in the last day. This uptick’s got folks talkin’ ’bout them U.S. spot Bitcoin ETFs again. Coinbase is gettin’ all gussied up, chosen by big names like BlackRock, Franklin Templeton, and Grayscale to handle their upcoming spot Bitcoin ETFs.
Coinbase says they’re ready as a hound dog on a hunt, all set to handle the expected increase in tradin’ volume and demand.
And don’t forget ’bout MicroStrategy – they just added 14,620 Bitcoins to their stash between November 30 and December 26. That brings their total to 189,150 Bitcoins, valued at a jaw-droppin’ $8.7 billion at current prices. Bought at an average price of $31,168, they’re sittin’ on a paper gain of $2.8 billion.
So, 2024’s startin’ off with a bang, and the next few days might just give us a clue ’bout where things are headin’. We’re keepin’ our eyes peeled.
Right now, we ain’t seein’ the blind greed of 2021. Instead, folks get jittery and start sellin’ as soon as stocks and crypto dip a smidge. It’s a bit of a pain if you’re glued to the charts like us, but it’s a good sign that the smart money’s still tricklin’ in. And everyone’s waitin’ on the SEC…
Let the games begin, y’all!
Ash and Booker, signin’ off. Peace out, friends!
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Disclaimer: Yo, this is Booker your CryptoButthead talkin’, man. This article is for entertainment purposes only and does not constitute financial advice. Invest responsibly, y’all! Don’t take it too seriously. Crypto investing is serious, just like any other investments. Get real info, dude. Remember, investing is extra risky. If you don’t know, ask someone who does. This article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Furthermore the author(s) of this article may or may not hold a position in the mentioned stock or digital asset. None of the companies or organizations discussed in the above article have paid for this content. The information provided in this article should not be considered financial advice, and readers should always do their own research before making investment decisions. However, as with any investment, there are potential risks and uncertainties to consider, such as potential regulatory changes, market volatility, and competition from other players in the industry. It is important for investors to carefully monitor this stock or digital asset and its performance over time to make informed decisions about their investments. cryptobutthead dot com is a project of The SiLLC Assembly. This site is for entertainment purposes only. The owner of this site is not an investment advisor, financial planner, nor legal or tax professional and articles here are of an opinion and general nature and should not be relied upon for individual circumstances.
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