Subscribe for notification
Crypto

Coinbase, MicroStrategy Stocks Surge, Reflect Bitcoin Rally

Coinbase, MicroStrategy, and Riot Blockchain stocks surged as bitcoin hit a two-week high after the recent attempt on Donald Trump’s life, reflecting Trump’s bullish stance on cryptocurrencies

Coinbase, MicroStrategy, and Riot Platforms experienced significant gains on Monday as investors poured into crypto companies in response to Bitcoin’s

Ascend to a two-week peak.

Investors have been wagering that the Republican presumptive nominee is now more likely to win the election in November, as the price of bitcoin has been increasing since the attempted assassination of Donald Trump over the weekend.

Last week, Trump signed on to headline the Bitcoin 2024 conference in Nashville, Tennessee and has recently been making increasingly bullish comments on crypto.

Source: National Geographic Kids

As of early Monday afternoon, Bitcoin is trading at approximately $63,500, a 6% increase from the previous day.

The shares of Coinbase, the largest centralized digital asset exchange in the United States, increased by 12% to $243.27, indicating that they are on track for their best day since February.

In the first quarter, Bitcoin comprised 33% of the platform’s trading volume, the highest percentage of any cryptocurrency. 13% of the volume was comprised of Ethereum.

Riot Platforms, a Bitcoin miner, experienced a 16% increase, while Marathon Digital, its competitor, experienced a 17% increase. Miners typically benefit from an increase in bitcoin’s value, as it enhances the value of their operations.

On Monday, the stock of MicroStrategy, the largest corporate holder of Bitcoin, increased by 17%. This year, the stock has experienced a rise of over 150%.

On Thursday, the company announced a 10-for-1 stock split to “enhance the accessibility of MicroStrategy’s stock to investors and employees.”

James Emmanuel

James is a Computer Science student with a robust foundation in tech and a skilled DevOps engineer. His technical expertise extends to his role as a news reporter at Protechbro, where he specializes in crafting well-informed, technical content that highlights the latest trends and innovations in technology.

Disqus Comments Loading...

Recent Posts

Apple Acknowledges Security Flaw Exposing Crypto Users—Here’s What to Do

Apple acknowledged on Monday that its devices were susceptible to an exploit that enabled the execution of remote malicious code…

6 minutes ago

Hackers Breach Tate’s Online ‘University,’ Steal Data

Hackers have infiltrated an online course that was established by Andrew Tate, a self-described misogynist and purported influencer The compromise…

5 hours ago

Apple Builds Conversational Siri with LLMs

Apple is reportedly working on an enhanced version of Siri, incorporating large language models (LLMs) to create a more conversational…

5 hours ago

YouTube Shorts Unveils AI Video Backgrounds

Thursday was the day that YouTube announced that its Dream Screen feature for Shorts now allows users to construct movie…

5 hours ago

Marissa Mayer Pitches Ad-backed AI Chatbot Model

Marissa Mayer proposes a business model for AI chatbots funded by advertising, highlighting potential opportunities for monetization Marissa Mayer possesses…

6 hours ago

Palo Alto Networks Warns of Firewall Breaches

By exploiting two new zero-day vulnerabilities discovered in widely used software developed by cybersecurity behemoth Palo Alto Networks, malicious hackers…

6 hours ago