From Nasdaq:

On Wednesday, Bitcoin surpassed the $1 trillion market cap once again, rising 5.3% in the last 24 hours. Coinbase Global (NASDAQ: COIN) jumped 14.5%, and MicroStrategy (NASDAQ: MSTR) jumped 12.8%, now up 13.7% and 12.2% respectively.

As the value of Bitcoin rises, there’s also a substantial amount of money flowing into Bitcoin through exchange-traded funds (ETFs). BlackRock’s iShares Bitcoin Trust has seen a surge from 2,621 Bitcoins to 105,280 Bitcoins held as of the market close on Feb. 13.

MicroStrategy holds 190,000 Bitcoins with an average purchase price of $31,224, making it a leveraged play on Bitcoin’s price. Coinbase provides services and trading for cryptocurrencies and is the custodian for the majority of Bitcoin ETFs, including BlackRock’s.

Investors should remember that cryptocurrencies can be volatile, and speculating on crypto can lead to troubling periods. Coinbase, with its large trading platform, services for institutional investors, and blockchain solutions, may be a better investment than directly buying Bitcoin.

The Motley Fool Stock Advisor team identified the 10 best stocks to buy now, none of which included Bitcoin. Since 2002, the Stock Advisor service has more than tripled the return of the S&P 500.

*Stock Advisor returns as of February 12, 2024.



Read more: Coinbase and MicroStrategy Are Riding Bitcoin Higher Today