Bloomberg Analyst Spotlights MSTR, COIN Domination Over AAPL, MSFT, AMZN, META

As Wall Street is buzzing with activity following the Donald Trump victory last week, popular crypto stocks like MicroStrategy (MSTR) and Coinbase (COIN) have taken up massive lead recently. On Monday, the trading volumes for MSTR and COIN outperformed some of the top tech companies like Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) which are part of the coveted Magnificent 7 group.

How MSTR and COIN Dominated the Tech Giants?

Bloomberg ETF strategist Eric Balchunas reported that the “Bitcoin Industrial Complex,” comprising of Bitcoin ETFs, MicroStrategy (MSTR), and Coinbase (COIN), collectively saw their daily trading volumes shooting to over $38 billion yesterday.

Notably, BlackRock’s IBIT ETF alone recorded $4.5 billion in volume, indicating strong inflows throughout the week. Balchunas described the day as monumental, suggesting it deserves a nickname akin to “Volmageddon.”

With $15.7 billion in daily trading volumes, MicroStrategy share occupied a spot in the top three of all US equities after Tesla and NVIDIA. On Monday, November 11, the MicroStrategy share surged 69 points ending the trading at $340, hitting a new all-time high with a breakout after nearly 25 years.

The MSTR stock will soon make its way to the S&P 500 index attracting an additional $10 billion in inflows, which could take it to $500. Since the Trump victory, the MicroStrategy share is already up 45% over the last five trading sessions.

This development comes as MicroStrategy announced a 27,200 BTC purchase on Monday, worth more than $2 billion. This purchase happened at an average price of $74,463 per BTC in the period between October 31 and November 10. Since then, the BTC price has already been trading at a 20% gain from the recent purchase price.

Another crypto stock Coinbase (NASDAQ: COIN) came fourth after MSTR with $13.5 billion in trading volumes, while Bitcoin miner Marathon Digital saw $3 billion in trading volumes. Following the Trump victory, the COIN stock has gained a staggering 75% in just five trading sessions as currently trading at a nearly three-year high of $324.

Here is a screenshot for the history books $MSTR w/ $15.7 BILLION trading volume & #3 of all equities$COIN at #4 w/ $13.5 Billion and $MARA w/ $3 Billion. pic.twitter.com/8x9c7OykyN

— HODL15Capital (@HODL15Capital) November 11, 2024

Bitcoin ETF Strong Demand Continues

On Monday, the spot Bitcoin ETFs saw more than $1.1 billion in inflows with the nine ETFs scooping 13,940 BTC in a single day. BlackRock’s IBIT once again had the lion’s share with more than $750 million worth of inflows.

This shows that demand for the spot BTC ETFs remains massive with total inflows since inception ow hitting $27 billion. In its blog post on Monday, CoinShares noted:

“Bitcoin recorded inflows of $1.8 billion, bringing total inflows to $9 billion since the U.S. Federal Reserve initiated its first interest rate cut of the current cycle in September. This surge in investor sentiment is likely fueled by a favorable macroeconomic environment and significant shifts within the U.S. political landscape”.

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