MicroStrategy, MARA, Riot, And Others Jump Amid Bitcoin's $98K Rally As Trump Mulls White House Crypto Role: Here’s How Retail’s Feeling

Shares of Microstrategy Inc. ($MSTR), Riot Blockchain Inc. ($RIOT), Coinbase Global Inc. ($COIN), Marathon Digital Holdings Inc. ($MARA) and other crypto-linked firms jumped pre-market on Thursday after Bitcoin ($BTC.X) crossed the $98,000-threshold for the first time. 

The rally in Bitcoin’s price comes amid reports that President-elect Donald Trump is holding discussions with the digital asset industry about whether or not to create a new White House post solely dedicated to cryptocurrency policy.

iShares Bitcoin ETF Sentiment and Message Volume on Nov 21 as of 7:40 a.m. ET | Source: Stocktwits

BlackRock’s Bitcoin-linked ETF ($IBIT) rose as much as 2% before markets opened on Thursday as retail sentiment on Stocktwits remained in the ‘extremely bullish’ zone.

The fund has gained over 36% since Trump won the election on Nov. 5.

Microstrategy Inc. ($MSTR)

Microstrategy Inc. Sentiment and Message Volume on Nov 21 as of 7:42 a.m. ET | Source: Stocktwits

Shares of Microstrategy jumped as much as 11% in pre-market trading on Thursday. However, retail sentiment on Stocktwits dipped to a year-low, hitting the ‘extremely bearish’ (12/100) territory.

Most users believe that the stock is now overvalued and in the ‘bubble’ territory, according to a poll conducted by Stocktwits. 

Microstrategy currently owns 331,200 Bitcoin valued at approximately $32.4 billion, which accounts for nearly one-third of the company’s market capitalization of $106.5 billion. It is the largest corporate holder of the digital asset.

The stock has gained 665% so far this year, outperforming the broader markets by a wide margin.

Marathon Digital Holdings Inc. ($MARA)

Marathon Digital Holdings Inc. Sentiment and Message Volume on Nov 21 as of 7:45 a.m. ET | Source: Stocktwits

Marathon Digital stock also surged more than 10% before markets opened on Thursday along with an uptick in sentiment to ‘bullish’ (68/100) from ‘neutral’ a day ago. 

Most users on Stocktwits are betting on the possibility that Bitcoin’s price reaching $100,000 will drive the next major rally in MARA stock, according to a recently conducted poll.

Marathon Digital is the second largest corporate holder of Bitcoin, after Microstrategy. It has 27,562 Bitcoin in its pocket value at around $2.6 billion. 

The stock has gained only 10% this year while Bitcoin has surged more than 130%.

Riot Blockchain Inc. ($RIOT)

Riot Blockchain Inc. Sentiment and Message Volume on Nov 21 as of 7:50 a.m. ET | Source: Stocktwits

Shares of Riot Blockchain jumped over 5% before markets opened on Thursday, with a slight uptick in sentiment to ‘neutral’ (51/100) from ‘bearish’ a day ago. 

The Bitcoin-mining company is the third largest corporate holder of the cryptocurrency with 10,928 Bitcoin in its treasury, worth approximately $1 billion. 

The stock has lost 17% of its value this year despite Bitcoin more than doubling in price. 

Coinbase Global Inc. ($COIN) 

Coinbase Global Inc. Sentiment and Message Volume on Nov 21 as of 7:55 a.m. ET | Source: Stocktwits

Meanwhile, shares of Coinbase rose by over 3% in pre-market trading on Thursday and sentiment took a slight dip into the ‘bearish’ territory from ‘neutral’ a day ago despite an uptick in chatter. 

The cryptocurrency exchange is the fifth-largest corporate holder of the cryptocurrency with 9,480 Bitcoin valued at $925 million. 

The stock has more than doubled in value so far this year, at-par with Bitcoin’s gains. 

Semler Scientific Inc. ($SMLR)

Shares of Semler Scientific surged a massive 23% in pre-market trading on Thursday. 

The health tech company just added 215 Bitcoin to its holdings on Monday, bringing its total to 1,273 BTC valued at around $124 million.

Semler Scientific has now adopted "Bitcoin Yield" as a key performance indicator (KPI). This was developed by Michael Saylor's MicroStrategy. According to the company, this helps “supplement an investor’s understanding” of acquiring Bitcoin for its treasury. 

The stock has gained 66% so far this year.