Strategy (MSTR), Coinbase (COIN) Surge as Bitcoin Pumps Near $73,000
Shares of Strategy (MSTR) and Coinbase (COIN) surged as Bitcoin climbed past $73,000, recovering from recent losses.Summary
Shares of MicroStrategy (MSTR) jumped 12.3% and Coinbase Global (COIN) rose 16.2% following a significant surge in Bitcoin's price past $73,000, marking a one-month high after weeks of decline. This rebound occurred as traders covered bearish bets amid easing fears related to the conflict in Iran. Other crypto-related stocks, including Galaxy Digital and Marathon Digital, also advanced, showing sector sensitivity to Bitcoin's momentum. The article also notes that MicroStrategy recently purchased 3,015 bitcoin for $204 million, bringing its average acquisition price close to the current market rate. Separately, the market movement followed a private meeting between Coinbase CEO Brian Armstrong and President Donald Trump, where Trump criticized banks for undermining crypto legislation, specifically concerning stablecoin reward programs, a point of contention between banks and digital asset firms.
(Source：Bitcoin Magazine)