Crypto stocks hammered as bitcoin sinks under $30,000

BTC Health

22/06/2021 14:02

(Updates)
    ** Shares of cryptocurrency and blockchain-related firms
slammed premarket as bitcoin  BTC=BTSP  slips below $30,000 for
first time since January
    ** BTC now down 6.7% at $29,526.81
    ** The losses follow an 11.1% drop on Monday as China's
crackdown on cryptocurrency mining expanded to the Sichuan
province  urn:newsml:reuters.com:*:nL3N2O31NJ
    ** U.S.-listed crypto miners Riot Blockchain  RIOT.O  and
Marathon Patent Group  MARA.O  down 5.9% and 5.4%, respectively
    ** Chinese bitcoin mining machine maker Ebang International
 EBON.O  slides 6.9%, MicroStrategy Inc  MSTR.O  - a bitcoin
buyer and business intelligence software firm - falls 7.3% 
    ** MSTR has issued hundreds of millions of dollars in debt
to buy BTC
    ** China-focused SOS  SOS.N  drops 7.4%, while shares of
crypto exchange Coinbase Global  COIN.O  decline 2.7%
    ** Bitcoin bank Silvergate Capital Corp  SI.N  down 2.8%
    ** Overstock.com  OSTK.O , an online retailer and blockchain
tech investor, down 1.6% 
    ** BTC had more than doubled in value at one point in 2021,
broadly lifting the market values of crypto-related stocks
    ** The cryptocurrency has seen steep declines since the
April peak and is now up only ~2% YTD

 (Reporting by Sagarika Jaisinghani and Aaron Saldanha in
Bengaluru)
 ((sagarika.jaisinghani@thomsonreuters.com))