Crypto stocks slide as bitcoin sinks to 1-1/2 month low
20/09/2021 13:51
** Shares of cryptocurrency and blockchain-related firms
sink premarket as bitcoin BTC=BTSP tumbles 9.5% to $42,745.25
** Bitcoin bank Silvergate Capital Corp SI.N down 5.9%;
cryptocurrency miners Riot Blockchain RIOT.O and Marathon
Patent Group MARA.O slide 6.9% and 9%, respectively
** China-based Future Fintech Group Inc FTFT.O slips 3%
** Shares of Overstock.com OSTK.O , an online retailer and
blockchain tech investor, down 3.1%; China-focused SOS SOS.N
drops 6% and shares of crypto exchange Coinbase Global COIN.O
fall 4.6%
** MicroStrategy Inc MSTR.O , a highly leveraged BTC buyer
and business intelligence software firm, tumbles 7.2%
** Bitcoin mining machine makers Ebang International
EBON.O and Canaan Inc CAN.O shed 5.6% and 6.4%, respectively
** Bitcoin falls as much as 9.7% to $42,660, its lowest
since Aug. 7 hurt by a broad risk-off sentiment
** BTC has risen ~46% YTD and has largely lifted the market
values of crypto-related stocks with it
(Reporting by Aaron Saldanha)
((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))