On Monday, shares of companies in the cryptocurrency sector soared, fueled by a rise in digital assets and other risk-oriented investments.
Strategy, previously known as MicroStrategy, saw its stock close over 10% higher, reaching $335.72 per share, according to Nasdaq data.
This software firm, listed under the ‘MSTR’ ticker, stands as the largest corporate Bitcoin holder. On Monday, it reported surpassing 500,000 Bitcoin in its reserves following its latest acquisition. Based in Tysons, Virginia, MSTR announced a new total of 506,137 Bitcoins valued at $44.2 billion, as stated in a press release. The company has been leveraging stock sales to finance its Bitcoin purchases.
Coinbase (NASDAQ: COIN), the largest cryptocurrency exchange in the U.S., experienced a 7% increase on Monday afternoon, trading at $203.
Other major public Bitcoin mining firms saw gains as well: CleanSpark (CLSK), powered by low-carbon energy, surged more than 18% on Monday afternoon, trading at $8.79; Riot Platforms (RIOT) climbed nearly 10% to $9.69; and MARA Holdings (MARA) was recently valued at $14.61 per share after an 18% increase.
U.S. equities also trended higher on Monday as the White House suggested a potential easing of its aggressive tariff policies on trade partners, along with recent favorable macroeconomic indicators. The tech-heavy Nasdaq index rose by 2.2% on that day.
Bitcoin, the leading cryptocurrency by market capitalization, was trading around $87,350, marking a 2.2% rise over the previous 24 hours, according to CoinGecko data. Ethereum and Solana also saw increases of more than 4% and 6%, respectively, in the same timeframe.
Earlier this month, the Consumer Price Index, a key inflation indicator, came in slightly lower than anticipated, alleviating market concerns over rising prices and stagnating economic growth—a phenomenon known as stagflation.
Concerns have been amplified by U.S. President Donald Trump’s tariffs on Mexico, China, and Canada, which undermined the positive effects of his policies favoring cryptocurrencies.
Bitcoin reached a record high above $108,000 following Trump’s inauguration, uplifting equity markets, but has recently retraced below $80,000 on several occasions.
Trump has reduced regulatory barriers and announced plans for a dedicated Bitcoin reserve.
Edited by James Rubin
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