Crypto-linked stocks are on a tear, with Coinbase, MicroStrategy, and others up more than 100% in a month as risk appetite returns

• These four cryptocurrency-related stocks are up more than 100% in the past month amid a broader tech rally.
• The Fed delivered its smallest rate hike in nearly a year on Wednesday, leaving traders with slightly riskier bets.
• Coinbase soared 26% on Thursday after a judge threw out a proposed class action lawsuit.

Crypto-linked stocks are higher this month as risk appetite grows on bets that high inflation may be in the rear view mirror.

And four companies in particular have stood out, after more than doubling since the beginning of the year.

The Coinbase crypto exchange surged 143% in the past month to $81.76 on Friday, hitting prices not seen since last September. The stock soared 26% on Thursday after a fired judge a proposed class action lawsuit against the crypto exchange.

MicroStrategy, which has bought 132,500 bitcoins since August 2020, has also shot up 102% in the past month.

Although the software company has lost money for eight consecutive quarters and reported A net loss of $1.47 billion for 2022 on Thursday, shares rose and hit a nearly six-month high of $293 on Friday, following bitcoin's rally this year.

"Our corporate strategy and conviction to acquire, hold and grow our bitcoin position over the long term remain unchanged," said Chief Financial Officer Andrew Kang.

Meanwhile, crypto mining companies Marathon Digital and Riot Platforms are up 130% and 127%, respectively, in the past month.

Investors are less risk averse as signs of slower inflation continue to mount, easing concerns about a hawkish Federal Reserve. That was confirmed on Wednesday, when the central bank delivered its smallest rate hike in almost a year.

Amid the more bullish outlook on rates, stocks have seen a broader rally, with the tech-heavy Nasdaq Composite and S&P 500 rising 16.87% and 8.9% in the past month, respectively.

The crypto markets are also making a profit right now. Bitcoin and ethereum are up more than 30% in the last month, according to messeras the market value of the industry sits above $1 trillion.

"We may have six more weeks of winter, but it doesn't look like we're going to see a crypto ice age," Edward Moya, a senior market analyst at market maker Oanda, said in a note, referring to the latest Groundhog. Forecast of the day.

He added: “January was a strong month for cryptocurrencies and the [Federal Open Market Committee rate] The decision helped all risk assets continue to rise."