Crypto Stocks To Watch As Bitcoin Hits New Highs

Crypto stocks recently experienced an uptick in popularity as investors rushed to secure a share of the recent Bitcoin rally. Some of the stocks achieved commendable growth over the last few months.

Bitcoin’s recovery over the last few weeks reignited confidence in the segment. It even Managed to cross into new highs recently and key developments observed recently could potentially support or continue to fuel aggressive stock price growth. Here are some of the top crypto stocks likely to achieve the most growth.

Strategy  (MSTR)

Strategy was at the forefront of the latest rally and has been aggressively purchasing BTC. A move that yielded impressive returns for investors as evident by its stock price growth.

For context, MSTR stock price traded at $399 at press time after rallying by more than 3,000% in the last 5 years. It had also rallied by about 33% on a year-to-date basis.

Can Strategy continue to tap into more growth? Recent developments suggest so. The company recently released a prospectus through which it revealed a plan to raise $2.1 billion through STRF share issuance.

The $2.1 billion collected from the new issuance event will be used to purchase more Bitcoin. The fresh issuance could support MSTR long term growth as Bitcoin balloons in value.

Coinbase (COIN)

Coinbase was recently added to the S&P500 marking a major milestone for the stock. The move was a pivotal moment because it was the first time a crypto stock joined the index.

ETFs and funds that invest in the S&P500 are required to allocate their investment into stocks within the index. This means Coinbase stock will benefit from heavy liquidity inflows in the coming weeks and months.

In the grander scheme of events, Coinbase stock being embraced into the S&P500 was also a sign of the level of crypto integration into traditional finance.

Coinbase stock pulled off a 22% plus rally in the last 7 days, with most of those gains a reaction to the new status. To put that into context, the stock traded below $200 before mid-May but it managed to rally as high as $271 since then.

Coinbase stock price was up 9.6% on a year-to-date basis and 43% in the last 4 weeks. This recent aggressive recovery underscores its ability to tap into value with the recent changes which underscored more potential institutional liquidity inflows.

Metaplanet AKA the Japanese MicroStrategy delivered an impressive bullish performance in the last 4 weeks. The stock rallied as high as $15 at its peak on 21 May and retreated to a $9.1 press time price tag.

Metaplanet’s stock price was still trading at a 248% 4-week premium despite the pullback which meant that most of the gains were achieved between April and May. In addition, the stock was up 295% in the last 24 hours.

Metaplanet’s performance underscored a massive wave of liquidity recently, especially as Bitcoin surged to new highs. This was confirmation that many investors especially in the Japanese market were embracing Metaplanet for exposure to the latest crypto market upside.

While the price excitement underscored rising investment in the stock, it also put the stock on the spotlight. Especially at a time when investors are looking to put funds in crypto stocks.

The more the liquidity flowing into Metaplanet, the higher its BTC investment. Interestingly, the company announced earlier in the week that it recently a just over 1,000 BTC, bringing its total holdings to 87,800 BTC.

The recent stock price surge could signal that Metaplanet might be about to ramp up their BTC purchases in the coming months. This could continue to contribute to its stock price in the long run.