Which stocks move with bitcoin?
A growing number of companies hold bitcoin, mine it or earn fees from trading it, and their shares can swing with the coin far more than with the stock market. Seeing which stocks are really bitcoin bets helps avoid owning the same risk twice.
Updated Oct 9, 2026
4 closely linked
Bitcoin is +32% over three months. 4 S&P 500 and Nasdaq-100 stocks have moved closely with it beyond what the market explains, led by MSTR, COIN, HOOD.
Against the S&P 500
Select bitcoin or any stock below. Each chart is its price against the S&P 500 since early 2024.
Stocks with a clear link to bitcoin
Only stocks with a correlation of 0.3 or more with bitcoin’s own moves, ranked by sensitivity. A sensitivity of 0.3 means a 10% move in bitcoin beyond the market has gone with about a 3% move in the stock. Select a column to sort.
| Stock | Link | Sensitivity | Correlation | 3M | 1Y | Sector | Past year |
|---|---|---|---|---|---|---|---|
| MSTR MicroStrategy | 100Moves with bitcoin | 1.25 | 0.75 | +68% | −53% | Information Technology | |
| COIN Coinbase | 100Moves with bitcoin | 1.03 | 0.67 | +14% | −54% | Financials | |
| HOOD Robinhood Markets | 100Moves with bitcoin | 0.64 | 0.46 | −1% | −28% | Financials | |
| PYPL PayPal | 99Moves with bitcoin | 0.27 | 0.31 | +17% | −27% | Financials |
How to read this page
How it’s measured. Weekly returns over the past 2 years for S&P 500 and Nasdaq-100 stocks, regressed on the S&P 500 and on IBIT’s own move after taking the stock market out of it. Sensitivity is the IBIT coefficient.
Sources. Daily prices from Financial Modeling Prep.
Bitcoin is measured through IBIT, a fund that holds it, from the fund’s launch in January 2024. Its moves are taken net of the stock market’s first, so the sensitivity shows a link to bitcoin itself.
A short history and a few large moves shape these estimates. Treat small sensitivities as noise.
This page is information, not investment advice. About our data and methods ›