Bitcoin Proxy Stocks Surge in Cryptocurrency Feeding Frenzy


December 12, 2017, 11:06 AM EST

Merchants can’t seem to get enough of all points crypto.

A day after the worthwhile start of bitcoin futures shopping for and promoting, firms normally seen as a safer varied to investing instantly in the cryptocurrency are on a tear. Riot Blockchain Inc. surged 33 p.c and the Bitcoin Funding Perception climbed 15 p.c. Overstock.com Inc. and MGT Capital Investments Inc. moreover superior.

The rallies adjust to a widespread selloff in the similar equities in the run-up to the debut of bitcoin futures that patrons speculated would cut back demand for proxies. Up to now, that hasn’t materialized, as Cboe World Markets Inc.’s worthwhile start of the derivatives contracts has solely heightened curiosity in nearly all crypto belongings.

Ether and litecoin, the second and fourth best cryptocurrencies, surged to data Tuesday on optimism that bitcoin futures will entice institutions to the…



Learn full story