{"id":281665,"date":"2022-12-14T13:45:00","date_gmt":"2022-12-14T13:45:00","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=281665"},"modified":"2022-12-14T12:55:39","modified_gmt":"2022-12-14T12:55:39","slug":"crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick\/","title":{"rendered":"Crypto stocks plunge to record lows, GBTC at 50% discount despite Bitcoin uptick"},"content":{"rendered":"<p>Several crypto-related stocks have seen their values plunge to new record lows despite Bitcoin's (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) value gaining upward momentum over the past 30 days.<\/p>\n<h2>GBTC discount rises to above 50%<\/h2>\n<p>Grayscale's Bitcoin Trust (GBTC) traded at a record discount rate of 50% on Dec. 13 following the US SEC's defense of its refusal to approve the conversion of the trust into an exchange-traded fund (ETF)<\/p>\n<figure id=\"attachment_281688\" aria-describedby=\"caption-attachment-281688\" style=\"width: 1834px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-281688\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1.png\" alt=\"Grayscale GBTC\" width=\"1834\" height=\"907\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1.png 1834w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1-300x148.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1-1024x506.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1-768x380.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/image-12-1-1536x760.png 1536w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><figcaption id=\"caption-attachment-281688\" class=\"wp-caption-text\">Source: Tradingview<\/figcaption><\/figure>\n<p>According to Google Finance <a href=\"https:\/\/www.google.com\/finance\/quote\/GBTC:OTCMKTS?sa=X&ved=2ahUKEwiRqP-n9Pj7AhUHY6QEHfSADJAQ3ecFegQIJxAg\">data<\/a>, its shares price is up 3.70% in the last 24 hours to $8.40 as of press time. It is down 6.25% in the previous 30 days and 41.5% in 6 months. On the year-to-date metric, its value has decreased by 75%.<\/p>\n<p>Speculations around the financial health of its parent company, Digital Currency Group, have <a href=\"https:\/\/cryptoslate.com\/grayscales-gbtc-discount-nears-50-as-community-concerns-rises\/\">grown<\/a> following recent events in the crypto space.<\/p>\n<p>GBTC's value has plunged 87% from its all-time high.<\/p>\n<h2>Coinbase shares tumble to record low.<\/h2>\n<p>Shares of the U.S-based crypto exchange Coinbase have fallen to a record low since its debut in April 2021.<\/p>\n<p>According to Yahoo Finance, COIN <a href=\"https:\/\/finance.yahoo.com\/quote\/COIN\/\">fell<\/a> below $40 on Dec. 11 and has traded below that mark since then. During the last 24 hours, its value dropped by 9.18% to $38.69 and over 20% within the previous 30 days. In 2022 alone, the stock's value has declined by more than 80%.<\/p>\n<p>At its peak, Coinbase shares traded for as high as $342.<\/p>\n<figure id=\"attachment_281686\" aria-describedby=\"caption-attachment-281686\" style=\"width: 1834px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-281686\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39.png\" alt=\"Coinbase Stock\" width=\"1834\" height=\"907\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39.png 1834w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39-300x148.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39-1024x506.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39-768x380.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/COIN_2022-12-14_08-39-39-1536x760.png 1536w\" sizes=\"(max-width: 1834px) 100vw, 1834px\" \/><figcaption id=\"caption-attachment-281686\" class=\"wp-caption-text\">Source: Tradingview<\/figcaption><\/figure>\n<p>However, despite its poor price performance, Cathie Wood's Ark Invest has continued to purchase shares of the crypto exchange. The investment firm <a href=\"https:\/\/finance.yahoo.com\/news\/cathie-woods-ark-invest-scoops-172736850.html\">reportedly<\/a> bought over 75,000 COIN shares for over $3 million.<\/p>\n<h2>Bitcoin miners stock down.<\/h2>\n<p>Bitcoin miners with a market cap above $1 billion during the 2021 bull run have seen their stocks decline by an average of over 80%, according to data shared by Anthony Power, a Bitcoin mining analyst with Compass Mining.<\/p>\n<figure style=\"width: 1790px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/Fj7VVXeX0AELXMZ?format=jpg&name=large\" alt=\"Bitcoin Miners Stock\" width=\"1790\" height=\"788\" \/><figcaption class=\"wp-caption-text\">Source: Anthony Power<\/figcaption><\/figure>\n<p>According to the data, Argo Blockchain is the worst hit, as its stocks have declined by 97.1% on the year-to-date metrics. In addition, a Dec. 10 <em>CryptoSlate<\/em> report <a href=\"https:\/\/cryptoslate.com\/argo-blockchain-accidentally-reveals-plans-for-bankruptcy\/\">revealed<\/a> that the BTC mining firm might have accidentally revealed its plans to file for bankruptcy.<\/p>\n<p><em>CryptoSlate<\/em> research has also revealed that miners face difficulty because of BTC's low price. As a result, they have been aggressively <a href=\"https:\/\/cryptoslate.com\/bitcoin-miners-selling-aggressively-as-crypto-market-continues-to-struggle\/\">selling<\/a> their BTCs, and their holdings have <a href=\"https:\/\/cryptoslate.com\/research-bitcoin-held-by-miners-sinks-to-1-year-lows-poolin-culpable\/\">plunged<\/a> to a year-low.<\/p>\n<p>A separate report <a href=\"https:\/\/cryptoslate.com\/hut8-riot-marathon-increase-btc-holdings-in-november-after-large-declines\/\">showed<\/a> that miners like Hut8, Riot, and Marathon increased their BTC holdings in November while Argo, Bit Digital, Bitfarms, and Cleanspark's BTC reserves shrank.<\/p>\n<h2>BTC is up 9% in the past 30 days<\/h2>\n<p>While Bitcoin-related stocks have struggled in the past year, the flagship digital asset has outperformed them despite weakened overall market conditions.<\/p>\n<p>According to <em>CryptoSlate<\/em> data, BTC is up 2.2% in the last 24 hours to $17,833. Its value has risen by over 4% in the last seven days and around 9% in the previous 30 days.<\/p>\n<p>Meanwhile, on the year-to-date metrics, BTC has declined around 60%, some 74% below its all-time high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several crypto-related stocks have seen their values plunge to new record lows despite Bitcoin&#8217;s (BTC) value gaining upward momentum over the past 30 days. GBTC discount rises to above 50% Grayscale&#8217;s Bitcoin Trust (GBTC) traded at a record discount rate of 50% on Dec. 13 following the US SEC&#8217;s defense of its refusal to approve [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":281775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77873],"tags":[76714,77844,76848],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto stocks plunge to record lows, GBTC at 50% discount despite Bitcoin uptick<\/title>\n<meta name=\"description\" content=\"Several crypto-related stocks have seen their values plunge to new record lows despite Bitcoin&#039;s value rising in the past 30 days.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto stocks plunge to record lows, GBTC at 50% discount despite Bitcoin uptick\" \/>\n<meta property=\"og:description\" content=\"Several crypto-related stocks have seen their values plunge to new record lows despite Bitcoin&#039;s value rising in the past 30 days.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-14T13:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-14T12:55:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/crypto-stocks-bitcoin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-stocks-plunge-to-record-lows-despite-bitcoin-uptick\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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