Bitcoin mining stocks are seeing bigger YTD gains than the king coins. A CryptoBriefing report shows that Bitcoin mining shares have seen a 327% increase in value since the start of the year. CryptoBriefing stated that the two largest US mining companies, Riot Mining and Marathon, have seen a greater year-to-date increase than either BTC or ETH.
Riot has increased 492% since 2020, while Marathon has increased by 387% since then. Bitcoin’s profit of 170% in 2020 is greater than the gains made by mining companies. ETH’s YTD record for ETH is also lower than that of the mining companies at 368%.
CryptoBriefing also warned that the BTC shares and mining stocks may be slowed down. The report compared the current upward trend to 2017’s Bitcoin rally, which eventually declined.
It was also found that Google searches for Bitcoin are increasing, which indicates an increased interest in the digital asset. Many investors, including MicroStrategy CEO Michael Saylor, have already openly stated that they own large amounts BTC. Saylor revealed that he has 17,732 BTC in a tweet.
Bitcoin has been attracting a lot institutional and individual investors over the past few months. The digital asset has seen a rebound from the March crash and has been soaring and reaching new heights. Bitcoin currently trades at $19,000, pointing towards a new high point of $20,000.
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