Blockchain News

Crypto Stocks Surge: Coinbase up 69%, MicroStrategy up 74% Since Lows

Despite experts expecting the Federal Reserve to continue raising interest rates, the price of crypto-related equities, ETFs, and tokens has risen so far in 2023.

Since the beginning of 2023, the share price of cryptocurrency exchange Coinbase has increased by 69% from its all-time lows, and other crypto-related stocks, such as business intelligence firm MicroStrategy, have had similar gains with green candles all around.

Coinbase’s stock price dipped as low as $31.95 on January 6, before rising to $54.14 at the conclusion of trade on January 17.

The soaring share price will almost certainly be accompanied by a great sigh of relief for Coinbase management after a difficult 2022 that saw it lay off 20% of its workers and close its Japanese operations. Despite the increase, COIN is still more than 84% lower than its all-time high.

Other cryptocurrency-related stocks, including as MicroStrategy and digital payments provider Block Inc., have also seen significant rises in the new year.

MicroStrategy’s share price has climbed to nearly $236 from a low of just over $135 on December 29 — a 74% increase — while Jack Dorsey’s Block’s share price has increased by a modest but still impressive 27% from a low of under $59 on December 28 to over $75.

The recovery in crypto mining equities has been much more remarkable. Bitfarms and Marathon Digital Holdings had 140% and 120% increases in the first two weeks of the year, respectively.

Crypto exchange-traded funds (ETFs) have also recovered to a lesser extent, with the Valkyrie Bitcoin Miners ETF (WGMI) more than doubling its price from a low of little over $4 on December 28 to more than $8.

The ProShares Bitcoin Strategy ETF (BITO) increased by over a third from more than $10 on December 28 to around $13 today.

Even Grayscale Bitcoin Trust has managed to reclaim some of its 2022 losses, after jumping from a low of $7.76 on Dec. 28 to a current price of $11.72, a 51% increase.

While the trust is intended to replicate the price of Bitcoin, it frequently trades at a discount or premium to the value of its underlying holdings, and it is now trading at a discount of little over 36% after trading at a discount of more than 45% on December 28.

Some analysts believe Bitcoin, in particular, has skyrocketed as a result of the positive inflation figures released by the United States on Jan. 12 — it has increased in price by more than 17% since then — but it is worth noting that Dec. 28 appeared to represent a market bottom across many cryptocurrencies and stocks.

While the recent surge in crypto-related stocks is bound to be a huge relief for those who have invested in them, it is worth noting that many of these companies still have a long way to go before returning to their all-time highs, as financial advisor Genevieve Roch-Decter highlighted in a Jan. 10 tweet.


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.