Bitcoin, Equities React to Pfizer COVID-19 Vaccine Announcement

Key Takeaways

  • Pfizer and BioNTech have developed a Coronavirus vaccine effective at 90% rate, companies’ shares and depositary receipts up.
  • Bitcoin surged on the announcement, before taking a rapid decline.
  • SPX futures also up 3%, while gold plummets.

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Pfizer and BioNTech’s vaccine announcement for preventing COVID-19 has shaken Bitcoin and equities markets. 

COVID Vaccine Tested on Tens of Thousands

Today, pharma giants shared details of a treatment effective in 90% of vaccine candidates, following an in-depth study of 43,538 participants. 

The trials evaluated 94 confirmed cases of COVID-19. It’s by far the closest treatment to a COVID-19 vaccine announced so far, and markets have responded shakily. 

Pfizer’s shares rose by around 7% when the announcement dropped, while BioNTech American’s depositary receipts are up 11%. SPX futures also jumped 3%. 

Meanwhile, Bitcoin raised questions over its performance in a risk-on climate, jumping in correlation with other assets within minutes of the news, before dipping back to a higher low of around $15,500. 

Ether followed Bitcoin’s trajectory. Gold has also dropped, suggesting that many market participants are unsure how to price in the news. 


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