April 17, 2021

Shares of mining companies outpaced Bitcoin in profitability by five times

Shares of mining companies outpaced Bitcoin in profitability by five times

Fundstrat Vice President Lior Shimron said that during the last bull run, the average stock returns mining companies has surpassed 5000%.

The investor analyzed the price movements of Riot Blockchain, Marathon Digital Holdings, Hive Blockchain and Hut 8 stocks.

Shares of mining companies outpaced Bitcoin in profitability by five times

According to him, shares of mining giants are growing by2.5% in response to each movement of the BTC price by 1%. While Bitcoin is up 900% over the year, some stocks have exceeded 8000%. Nevertheless, it should be borne in mind that in a bear market, their shares will start to fall in price.

In the middle of last month, when BTC crossed the psychological mark of $ 50,000, the shares of miners and ASIC manufacturers doubled.

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