Crypto-Related stocks sink, following Bitcoin’s lower Friday

Key Takeaways

• Shares of Mara Holdings and Strategy, as well as several other companies linked to cryptocurrency, fell Friday along with the Bitcoin price.
• Stocks were down on Friday after data on inflation and consumer confidence raised concerns over the state of the economic system.
• The price of Bitcoin surged in the wake of Donald Trump's reelection on expectations of a friendlier regulatory environment, though the cryptocurrency lost some of those gains in recent weeks.

Shares of Mara Holdings(MARA), Strategy(MSTR) and other companies linked to cryptocurrencies dropped Friday along with Bitcoin’s (BTCUSD).

Mara Holdings dropped 9%, Strategy dropped by 10%, Coinbase (COIN), fell by 7%. Bitcoin, meanwhile, slid 4%, to just above $83,700, in recent trading. Ethereum (ETHUSD), and other popular cryptocurrencies, lost ground as well on Friday.

Stocks closely related to the crypto-industry often follow the price movement of Bitcoin. The cryptocurrency and stocks declined Friday along with the broader market as the latest inflation data and consumer sentiment data raised concern about the state the economy.

The price Bitcoin surged in the weeks following Trump’s election on expectations of a friendlier regulatory environment, surpassing $100,000 for the first time in December and setting a record high above $109,000 on the day of his inauguration. However, the cryptocurrency has fallen in recent weeks amid uncertainty over the economic impact of Trump’s tariffs.