Coinbase, Strategy, Other Bitcoin and Crypto Stocks Soar in Record-Setting Week
Crypto-focused companies experienced a significant rise this week, driven by Bitcoin's surge, which reached new all-time highs. Coinbase surged roughly 9%, and Strategy gained about 12%, while Robinhood stocks climbed 5%. Major Bitcoin miners like MARA Holdings saw a 12% increase. Bitcoin prices rose above $118,500, marking a 9% growth since Monday. Analysts report that this upward trend is fueled by institutional interest in digital assets and prospects for interest rate cuts, alongside endorsement from President Trump. Year-to-date, Bitcoin has increased by 25%. Coinbase, the U.S.'s largest crypto exchange, has risen 50% since January, with analysts setting price targets above $500. Notable miners like CleanSpark and Riot Platforms also reported increases amid general market optimism. Additionally, BlackRock's spot Bitcoin ETF reached $80 billion in assets, showing rapid growth in crypto investment vehicles. Despite a dip in traditional equity markets, the positive dynamics in crypto trading have captured investor attention, with signs that Bitcoin may continue its upward trajectory.
Source 🔗