Bitcoin Ignites Blockchain Shares’ Surge, RIOT and MGTI Record Near 30% Rise in a Day
[ChainDD report] June 27 (ChainDD) Bitcoin’s topping $13,900 fuels US blockchain shares’ surge. On June 26 EST, MGT Capital Investments Inc. (MGTI) jumped as high as 57% intraday and closed with a rise of 27.4%. Marathon Patent Group (MARA), Overstock (OSTK) and Riot Blockchain Inc.(RIOT) respectively ended the day with the rise of 29.21%, 25.46% and 14.85%. Three major US stock indexes mixed that day. The S&P 500 lowered 0.12%, the Dow Jones Industrial Average fell 0.04% and the Nasdaq Composite advanced 0.32%.
But as Bitcoin crashed below $12,000, blockchain shares plunged in after-hours trading. Both MGT Capital Investments and Riot Blockchain dropped more than 10% and Overstock dumped 8%.