The post Coinbase, MicroStrategy, Bitcoin Mining Stocks Surge Amid Optimistic Market Shift appeared on BitcoinEthereumNews.com.

American crypto giant Coinbase has seen a resurgence in its stock price, climbing past the $300 mark for the first time since 2021. The rally was also witnessed in the stock of enterprise analytics firm and major Bitcoin (BTC) holder MicroStrategy, whose price hit a record high after surging to $344. Both developments followed a rampaging Bitcoin performance, which saw the cryptocurrency break its all-time high (ATH) price several times in quick succession in the last 24 hours. Coinbase Up 20%, MicroStrategy Breaks Record On November 11, Coinbase’s stock (COIN) witnessed a 20% uptick, closing the day at an impressive $334.24, per data from Google Finance. The jump represented an 84% improvement in the company’s stock across a span of just 30 days, highlighting growing investor confidence in crypto-related assets. While after-hours trading saw COIN shares dip slightly to $324.24, they have still maintained strong momentum, with analysts now setting even higher price targets for the stock. On its part, MicroStrategy (MSTR), which holds more than $24 billion in BTC, saw its stock rise by almost 26% to hit $351, a new ATH, before settling at $340. Industry watchers have suggested these skyrocketing prices go beyond traditional market dynamics. Donald Trump’s victory in the recent U.S. presidential election is said to have sparked optimism among crypto investors, triggering an unprecedented upward trajectory in BTC and the broader digital asset market. Many feel that a Trump administration will likely adopt a friendlier stance toward crypto, which could offer tailwinds to digital asset prices, as witnessed in the last few days. With Bitcoin setting new ATHs several times in the last 24 hours, companies like Coinbase and MicroStrategy, which have a huge interest in the cryptocurrency, were due to benefit. MicroStrategy boasts the largest corporate Bitcoin treasury in the world, holding nearly…

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Filed under: News - @ November 12, 2024 1:27 pm