Bitcoin Proxy Stocks Rise Alongside Digital Currency's Futures
- Cryptocurrency-related equities surge on bitcoin’s Cboe debut
- Rally follows widespread sell-off in run-up to futures
Bitcoin Futures Surge in Cboe Debut
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Companies often seen as a safer alternative to investing directly in bitcoin are rallying in the wake of the successful introduction of futures for the biggest digital currency.
Overstock.com Inc., one of the first retailers to start accepting bitcoin, rose as much as 18 percent Monday to the highest in a month. Seven Stars Cloud Group Inc. and Riot Blockchain Inc. surged as much as 25 percent and 27 percent, respectively. Shares of MGT Capital Investments Inc., Digital Power Corp., and Social Reality Inc. are also trading higher, while the Bitcoin Investment Trust climbed as much as 9 percent.