Coinbase, Metaplanet, MicroStrategy: Can These Crypto Stocks Defy the Bear Market Blues?
As crypto markets face another downturn, three publicly-traded companies stand at the forefront of the digital asset revolution—but can their stocks weather the storm?
The Bitcoin Bet
MicroStrategy continues doubling down on its Bitcoin treasury strategy, while Japan's Metaplanet mirrors the playbook. Both companies treat crypto volatility like a feature, not a bug.
Exchange Resilience
Coinbase navigates regulatory headwinds and market cycles, proving exchange business models can thrive even when retail traders panic-sell. Their institutional services division now drives revenue.
Wall Street's Crypto Conundrum
Traditional finance still can't decide whether these stocks are brilliant hedges or glorified crypto proxies—but their balance sheets speak louder than skeptical analysts' reports.
While Goldman Sachs bankers debate blockchain adoption over $100 coffees, these companies actually build the infrastructure for digital finance's future.
Key Insights:
- Analysts set targets as high as $430 for Coinbase (COIN) stock.
- Metaplanet stock has a daily range between ¥589 and ¥650.
- MSTR stock has surged 4.7% to $344.750.
The crypto stock market began the week showing signs of volatility. The total cryptocurrency market capitalization has slipped to $3.89 trillion, marking a 3.65% decline.
Similarly, the CMC20 index, which tracks the performance of the top 20 cryptocurrencies, is down 3.68% to $246.99.
However, market participants remained optimistic about the potential in top crypto stocks. A few crypto stocks to watch this week for performance include Coinbase (COIN), Metaplanet (TYO:3350), and Strategy Inc (MSTR).
Coinbase Inc (COIN) Stock Update
Coinbase is a leading cryptocurrency exchange in the U.S. According to Google Finance data, the COIN stock is currently trading at $333.45, down 2.63% in pre-market trading.
Investors are closely watching the launch of Coinbase’s new derivative product, Mag7 + Crypto Equity Index Futures, slated for today, September 22.
The launch of this product could strengthen Coinbase as the go-to exchange for diversified market access. This will potentially set the stage for a rally in COIN.
The new derivative product, as the name implies, will track the top 7 tech stocks, including Tesla, Meta, Nvidia, Amazon, Alphabet, Microsoft, and Apple. It will also track BlackRock’s spot Bitcoin exchange-traded fund (ETF).
Coinbase explained that the product is history’s first futures contract to combine both traditional and digital assets in a single index.
Meanwhile, Coinbase recently secured a strategic partnership with Google. Leveraging the partnership, Google launched an AI-powered payment protocol that incorporated stablecoin support.
The Google-Coinbase partnership has raised optimistic forecasts about the COIN stock surging towards the $430 resistance. Following this collaboration, Coinbase announced within the Base ecosystem, which added to the prospects for COIN.
Metaplanet (TYO:3350)
Similar to Coinbase, the stocks of Metaplanet Inc. are not doing badly. Although shares of Metaplanet stock are down on the daily and weekly charts, it has rallied 16.4% over the past six months.
As of this writing, Metaplanet stock is trading at ¥589, worth about $3.9. The daily range is between ¥589 and ¥650.
Metaplanet has positioned itself as one of Asia’s most aggressive corporate buyers of Bitcoin, holding 25,555 BTC, valued at approximately $2.9 billion.
Across the globe, Metaplanet is the fifth-largest corporate holder of BTC. Year-to-date (YTD), Metaplanet has achieved a BTC yield of 295.1%.
The company aims to acquire 210,000 BTC, which is 1% of Bitcoin’s total supply by 2027. Metaplanet announced today that it purchased an additional 5,419 BTC.
This purchase signals a bold long-term commitment to the leading cryptocurrency. The strategy mirrors that of MicroStrategy, making it a notable Bitcoin proxy investment.
In addition, Metaplanet has a strong trading volume, with 52.47 million shares traded, reflecting strong market interest.
With investor interest rising and Metaplanet’s continuous BTC accumulation, the stock is set to see a bullish performance.
MicroStrategy (MSTR) Stock Continues Surge
MSTR is another stock to watch due to the company’s aggressive Bitcoin accumulation strategy. It is similar to Metaplanet, but with a larger scale and longer track record.
Strategy (formerly MicroStrategy), under the leadership of Michael Saylor, continues its aggressive Bitcoin acquisition strategy.
Within the past 5 days, MSTR stock has surged 3.57%, according to Google Finance data. At press time, MSTR is valued at $341.08, with a market cap of $96.69 billion.
MicroStrategy is the largest corporate holder of Bitcoin, with 639,835 BTC, according to BitcoinTreasuries.
Analysts are bullish on MicroStrategy stock, with a consensus rating of “Strong Buy” and an average price target range $457 to $500. These high targets reflect confidence in its Bitcoin strategy and potential crypto market rallies.
