Year to date, MicroStrategy has soared 542.8% as of Wednesday's close. Robinhood has rallied more than 200%, while Coinbase has nearly doubled. Mara Holdings has lagged the group with a 10.5% gain.
Investors became bullish on bitcoin after President-elect Donald Trump won the Nov. 5 election on the expectations of a more relaxed regulatory environment.
Investors have also poured into leveraged MicroStrategy ETFs, according to a research note from JPMorgan on Wednesday. A leveraged exchange-traded fund can amplify the potential gains of an underlying index by holding debt; as a result, it is also viewed as a higher-risk investment fund.