Crypto stocks: Drop as Bitcoin declines more than 6.5%

Sos

28/05/2021 12:46

** Shares of cryptocurrency and blockchain-related firms
fall premarket as bitcoin  BTC=BTSP  drops 6.6% to $35,950.90
    ** Ulrik Lykke, executive director at crypto hedge fund
ARK36, says he expects BTC to be trading in a range between
$34,000 and $40,000
    ** Bitcoin bank Silvergate Capital Corp  SI.N  down 1%
before the bell; cryptocurrency miners Riot Blockchain  RIOT.O 
and Marathon Patent Group  MARA.O  trade 6% and 4.8% lower,
respectively 
    ** China-based Future Fintech Group Inc  FTFT.O  slips 1.6%,
while crypto mining equipment maker Ebang International  EBON.O 
falls 3.9%
    ** Shares of MicroStrategy Inc  MSTR.O , a BTC buyer and
business intelligence software firm, drop 3% 
    ** China-focused SOS  SOS.N  drops 4.2%, while shares of
crypto exchange Coinbase Global  COIN.O  shed 3%
    ** YTD, BTC has risen ~23%, broadly lifting the market
values of crypto-related stocks with it

 (Reporting by Aaron Saldanha, Additional reporting by Tom
Wilson)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))