Let's go and check out cryptocurrencies now brought to you by the National cryptocurrency Association. We are seeing broadly a rally in cryptocurrencies along with other risk assets including stocks, but I want to dig into Bitcoin a little bit for a moment. We are now seeing it approach 78,000. So, it's been on a pretty remarkable run as of late.
If you look at the year-to-date chart, remember yesterday we were talking about whether it was going to break out above its recent range. It seems to have done that.
I was just reading some Bloomberg reporting, however, that some of the derivatives markets are expressing some skepticism that we will see this as a sustained rally in Bitcoin prices. So we'll have to see if it keeps going, but that is an interesting milestone we just crossed over 78,000 in Bitcoin. Still, as you can see, deeply negative on the year, but nonetheless breaking out of that recent range.
We're also continuing to watch the cryptocurrency stocks. All of them are trading higher today. Kraken, the cryptocurrency exchange which is not yet public, announcing it is buying a company called Bitnomial, actually Payward, which is Kraken's parent company, technically buying Bitnomial for $500 million.
That is a digital assets derivatives um platform. So that deal happening in the background of this rally that we are seeing in many of these stocks today. Again, on the year, still seeing some weakness, whether you look at a let's look at strategy as one example.
So here's the year to date. Actually, we've turned positive year to date for strategy. I did not expect to see that, but here we are with this recent push higher in recent days for those shares. So that's really interesting.
Uh Robin Hood had been the worst performing stock in the S&P 500. Not sure if it's still in that tailing position, but those shares are still down 18% year to date even with the rally that we've seen as of late.