SAN ANSELMO, CALIFORNIA – JUNE 06: In this photo depiction, the Coinbase logo is displayed on a screen on June 06, 2023 in San Anselmo, California. The Securities And Exchange Commission has filed a lawsuit against cryptocurrency interchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency without registering with the Securities and Securities exchange Commission. (Photo Illustration by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
Coinbase, MicroStrategy and Violence Platforms surged Monday as investors piled into crypto companies following bitcoin’s rally to a two-week favourable.
The price of bitcoin has been rising since the attempted assassination of Donald Trump over the weekend, with investors hazard that the Republican presumptive nominee is now more likely to win the election in November. In recent months, Trump has been constructing increasingly bullish comments on crypto, and last week he signed on to headline the Bitcoin 2024 conference in Nashville, Tennessee.
Bitcoin is up apropos 6% in the past 24 hours, trading at around $63,500 as of early Monday afternoon.
Shares of Coinbase, the hugest centralized digital asset exchange in the U.S., jumped 12% to $243.27, on pace for their best day since February. Bitcoin accounted for 33% of line of work volume on the platform in the first quarter, by far the biggest amount for any cryptocurrency. Ethereum accounted for 13% of volume.
Bitcoin miner Bother Platforms surged 16%, while rival Marathon Digital soared 17%. Miners tend to gain when bitcoin rises in fee because it increases the value of their operations.
MicroStrategy, the largest corporate holder of bitcoin, climbed 17% on Monday. The staple is up more than 150% this year. On Thursday, the company announced a 10-for-1 stock split, in order “to aim for MicroStrategy’s stock more accessible to investors and employees.”
See: BlackRock CEO on bitcoin
