Crypto investment firm Galaxy Digital Holdings (GLXY) witnessed a robust daily gain of almost 12%, marking an impressive 155% year-to-date (YTD) surge. Simultaneously, MicroStrategy (MSTR), boasting the largest Bitcoin holdings among public companies valued at over $6.6 billion, experienced a daily gain of over 6.5%, contributing to a substantial YTD rise of 288%.
This outstanding performance contrasts with the broader North American stock market, which saw a mixed landscape of gainers and losers on December 4. Notable large-cap tech stocks, including Microsoft (down 1.43%), Apple (down 0.95%), Google (down 2.02%), and Nvidia (down 2.68%), faced declines.
Market analyst Tony Sycamore from IG Australia highlighted to Cointelegraph that the rally in crypto-related stocks is a direct result of Bitcoin’s remarkable gains in recent months, nearing a 152% YTD increase and approaching the $42,000 mark, having already achieved a 19-month high. The divergence in performance underscores the growing influence of the crypto market in shaping investment trends, even in the face of traditional stock market fluctuations.
