Crypto-linked stock mania tested by sliding prices, slump in Bitcoin

Coinbase, the biggest U.S. cryptocurrency exchange, closed at $342 on Friday

A drop in cryptocurrency-linked stocks in the wake of Bitcoin’s slide and Coinbase Global Inc.’s choppy debut is stirring a rallying cry from optimists who reject fears that the sector has peaked.
 

A global, Bloomberg-curated basket of equities linked to crypto trading or Bitcoin mining fell some 9% over the past week, paring 2021’s climb to about 130%. A weekend Bitcoin plunge rattled crypto mania, but the token has since pared some losses and remains up 690% over the past year.
 

“The public market validation of Bitcoin and the entire space from Coinbase’s listing will encourage people who can invest