Coinbase and MicroStrategy (MSTR) have recently set stock price records, buoyed by a surge in the cryptocurrency market. Coinbase hit an all-time high with an intraday peak at $444.65, while MicroStrategy’s market cap soared as it reported holding 601,550 Bitcoin, despite the stock facing a pullback. Notably, MicroStrategy maintains approximately $70 billion in Bitcoin across undisclosed custodians, with speculation linking several firms including Coinbase and BitGo. The SEC is aware of these custody arrangements but precise details remain confidential under SEC Rule 83. The week also saw several companies ramping up their cryptocurrency treasuries; for example, Bit Origin raised $500 million to invest in Dogecoin and Sharplink announced a massive increase in its Ethereum treasury amid notable market activity. The trend reflects growing institutional interest in digital assets despite regulatory scrutiny, highlighting an evolving landscape in both ownership and investment strategies within the crypto sector.

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