by Ian Cooper

With the US dollar collapsing, the value of Bitcoin is exploding.

In fact, according to Forbes.com, “The bitcoin price is braced for a dollar ‘confidence crisis’ as the ICE U.S. dollar index plummets to its worst day since 2022.”

“Like a rising tide, the dollar’s decline is lifting other assets,” Alex Kuptsikevich, FxPro chief market analyst, said, as quoted by Forbes, adding “a falling dollar supports cryptocurrencies.”

That’s why Bitcoin is up another $3,000 to $82,417.90 on the day.

It’s also why Bitcoin-related stocks are going along for the ride, including:

MicroStrategy (MSTR)

With a market cap of $72.5 billion, MicroStrategy (MSTR) provides business intelligence, mobile software and cloud-based services.

But what makes it really exciting is its 528,185 Bitcoin holdings – which is now worth just over $43.6 billion at the moment. That means every time Bitcoin runs, the value of MSTR’s BTC holdings run, which sends shares of MSTR screaming higher.

Even better, they’re not done buying Bitcoin – which could send MSTR even higher.

Last trading at $288.95, we’d like to see the MSTR tock retest $350 initially. From there, we believe it could rally back to $400 near term.

ProShares Bitcoin Strategy ETF (BITO)

If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF(BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.

After catching support at $16.48, BITO is now trading at $17.96. From here, we’d like to see the BITO ETF rally back to $21 initially.

Marathon Digital (MARA)

Bitcoin mining stock Marathon Digital is just as attractive.

After dropping to about $10 a share, MARA is now up to $12.14. From here, we’d like to see it retest $15 a share initially. Helping, analysts at Rosenblatt recently initiated a buy rating on the MARA stock, noting that it’s “the most levered to our bullish Bitcoin views.”