Why Bitcoin and Ethereum Stocks Exploded Higher on Wednesday

Shares of crypto-related stocks, including Bit Digital Inc BTBT, Coinbase Global Inc COIN and Riot Blockchain Inc RIOT, all traded higher on Wednesday amid rising increase in the price of Bitcoin BTC/USD and Ethereum ETH/EUR.

Crypto rallied amid a rebound in broader markets. Major U.S. indexes were higher on Wednesday as Treasury yields fell sharply. The Bank of England has also indicated that it will buy government bonds in order to stabilize the pound.

Bitcoin is trading up 3.90% to around $19,484 on Wednesday.

Ethereum is trading up 4.05% to around $1,339 on Wednesday.

Bit Digital is engaged in the bitcoin mining business. The Company's mining rig operates with the primary intention of accumulating Bitcoin which may sell for fiat currency from time to time depending on market conditions.

Bit Digital rose 4.13% to $1.26 per share.

Coinbase is the leading cryptocurrency exchange in the United States.

Coinbase rose 6.76% to $67.31 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain traded up 7.47% to $7.34 per share.

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