Riot Blockchain Shares Rise After El Salvador Makes Bitcoin Legal Tender and Pfizer Shares Rise After U.S. Purchases 500 Million Doses
On Wednesday, shares of Riot Blockchain jumped, closing up 11.94%.
Shares of the Bitcoin mining company shot up after El Salvador announced they would become the first country to adopt Bitcoin as a legal form of payment.
After a supermajority of lawmakers in Congress passed the Bitcoin Law, the price of Bitcoin shot up 5%. Riot Blockchain may continue to be a relatively volatile stock as Bitcoin continues to experience wild price swings. However, if the price of Bitcoin continues to rise, shares of Riot Blockchain could continue to rise.
Shares of Riot Blockchain have risen over 80% this year.
On Wednesday, shares of Pfizer rose, closing up 2.47%.
Shares of the American multinational pharmaceutical company rose after President Joe Biden announced the United States would buy an additional 500 million doses of Pfizer’s COVID-19 vaccine. The US said it would donate the 500 million doses to 92 low and middle-income countries and the African Union.
The first 200 million doses will be provided this year, with the remaining 300 million doses being provided in the first half of 2022. Covax, a World Health Organization-backed program, will distribute the doses.
Shares of Pfizer have risen over 8% this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.