The coin price is rising, but this U.S.-stock proxy is falling.
On October 1, Bitcoin broke above $83,000; the same day, a certain U.S.-compliant trading platform recorded $186.41, down 1.9%. Another brokerage’s proxy stock fell 3.2%. Prices go up, stocks go down.
What the market is arguing about now isn’t how much it’s worth, but whether this divergence counts as a signal.
Some people say that during this round of Bitcoin’s run-up, the stock—along with another company that holds crypto—didn’t break above the May highs. Similar patterns have appeared in the past, followed by a downward cycle—though this claim still needs verification, and the sample size is small.
Another, harder line of reasoning is this: the earnings report released after the close on October 29 showed consensus estimated per-share loss of about $0.36. After missing expectations the previous quarter, the stock dropped more than 10% the next day.
It just received the qualification to clear derivatives; its compliant business is expanding, but the financial statements haven’t caught up yet.
So the question becomes: when the coin price rises, is the market pricing in the earnings report in advance, or has this stock’s pricing power already shifted away from crypto capital?
What do you think?
On October 1, Bitcoin broke above $83,000; the same day, a certain U.S.-compliant trading platform recorded $186.41, down 1.9%. Another brokerage’s proxy stock fell 3.2%. Prices go up, stocks go down.
What the market is arguing about now isn’t how much it’s worth, but whether this divergence counts as a signal.
Some people say that during this round of Bitcoin’s run-up, the stock—along with another company that holds crypto—didn’t break above the May highs. Similar patterns have appeared in the past, followed by a downward cycle—though this claim still needs verification, and the sample size is small.
Another, harder line of reasoning is this: the earnings report released after the close on October 29 showed consensus estimated per-share loss of about $0.36. After missing expectations the previous quarter, the stock dropped more than 10% the next day.
It just received the qualification to clear derivatives; its compliant business is expanding, but the financial statements haven’t caught up yet.
So the question becomes: when the coin price rises, is the market pricing in the earnings report in advance, or has this stock’s pricing power already shifted away from crypto capital?
What do you think?