Biotech Stock Plunges on Bitcoin Plans as Ethereum Treasuries Stay Hot
Main Idea
Bitcoin reached a new all-time high price, while Ethereum is nearing its record, with significant gains driven by investor interest and favorable market conditions. Meanwhile, Ethereum-based treasury firms' stocks have surged, contrasting with Bitcoin's more modest performance.
Key Points
1. Bitcoin hit a new peak price of $122,882, surpassing its previous record, while Ethereum was trading at $4,763, nearing its all-time high of $4,878.
2. Ethereum's strong gains (up 58% this month and 75% over the past year) are attributed to investor momentum and regulatory optimism, while Bitcoin's gains have been more muted (up 2% over the past month).
3. Ethereum-based treasury firms like ETHZilla (180 Life Sciences), BitMine Immersion, and SharpLink Gaming saw significant stock price increases (211%, 48%, and 8% respectively over five trading days).
4. Tech billionaire Peter Thiel purchased a 7.5% stake in 180 Life Sciences (rebranded as ETHZilla), causing its stock to surge.
5. OKB, the native token of OKX, hit a new all-time high after OKX announced plans to reduce its supply by burning 65 million tokens.
Description
Lixte Biotechnology's share price fell hard after it revealed a Bitcoin treasury, while firms stashing Ethereum have been surging of late.
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