Crypto
These 2 Cryptocurrency Stocks Are Riding Bitcoin’s Record Highs | The Motley Fool
Bitcoin may be soaring, but these crypto stocks are doing even better.
This October has been good for cryptocurrencies so far. As I write this (Oct. 8), Bitcoin (CRYPTO: BTC) has gained 7% since the start of the month and 10% in the past 30 days. One driver was the government shutdown, which increased the appeal of alternative assets like crypto and gold that may act as safe havens.
Strong crypto performance is usually good news for cryptocurrency stocks and Bitcoin corporate treasury companies. Indeed, these two have outperformed Bitcoin in the past month.
Image source: Getty Images.
1. Bullish
Bullish (BLSH -9.08%) has gained almost 35% in the past 30 days, buoyed by several announcements. The institution-focused global digital asset platform launched a U.S. spot trading exchange and a crypto options platform for clients outside the U.S.
It also announced a corporate banking partnership with Deutsche Bank (NYSE: DB) that includes fiat deposits and withdrawals for clients in Hong Kong and Germany.
2. MARA Holdings
MARA Holdings (MARA -7.77%) is up over 30% in the past 30 days. It reported that September’s Bitcoin production was up 4% month over month and showed it is taking a higher proportion of overall miner rewards.
MARA is a Bitcoin mining company with a twist: It reduces the cost of mining through renewable energy generation and clean energy conversion. It’s also expanding into AI data centers, making it more than a one-trick Bitcoin pony.
Bitcoin corporate treasury companies can be risky
There are various ways to get exposure to Bitcoin, including buying it directly, investing in Bitcoin ETFs, and using corporate treasury companies. For some — like the two above — Bitcoin is a core part of their business.
For others, like Strategy (NASDAQ: MSTR), Bitcoin accumulation sits outside their original business activities. Strategy has led the way in using leverage, which can generate outsized returns. However, that also adds risk.
If you’re considering investing in a Bitcoin treasury company, take a good look at the role crypto plays in their business. Consider how much Bitcoin it holds, what it paid for it, and how the business will handle any prolonged price drops.
Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.
The clerk said the customer would not believe the clerk’s warning that she was being scammed.
Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.
The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.
The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.
She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.
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Read more from the West Shore Sun.
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