Coinbase shares slump to record low as Bitcoin tumbles

Shares of crypto-related companies Coinbase, MicroStrategy, and Galaxy Digital fell amid the market correction on June 22, but recovered after Bitcoin climbed back from a local bottom.

On Monday, Coinbase’s Nasdaq-listed stock briefly fell to $210.77 per share, an all-time low. Relative to the opening price at listing, the stock was down 44%.

At the time of writing, the securities were trading at $222.63. Relative to the session’s opening price, their value had risen by 2.8%.

Shares of MicroStrategy, whose subsidiary MacroStrategy holds 105 084 BTC, rose 3.9% in the previous trading session, and were trading at $556 per share at the time of writing.

Galaxy Digital’s crypto trading bank shares listed on the Toronto Stock Exchange (TSX) rose 7.4% during the trading session and were trading at $19.87 per share at the time of writing. 

On June 22, BTC price for the first time since January fell below the $30,000 level. After hitting a local low, Bitcoin rose 20%, climbing above the $34,000 mark. 

In June, shares of publicly listed mining companies outpaced digital gold in terms of returns. 

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