Crypto treasury stocks fall as markets rout, with some exceptions
Investors didn’t take too kindly to new crypto acquisitions from treasury companies on Monday, while announcements from crypto-pivoting businesses had the opposite effect.
Crypto stocks saw mixed day of trading in the US on Monday as investors winced over crypto treasury firms’ latest buying, but still took well to new crypto pivots and acquisitions.
Stocks tied to the crypto sector fell in early trading on the US and Canadian markets on Monday as the price of Bitcoin (BTC) dropped under $113,000 for the first time in nearly two weeks, as hype from the Federal Reserve’s rate cut on Wednesday faded.
Crypto treasury companies, which buy and hold crypto, largely led Monday’s losses.
