SAN ANSELMO, Calif. – JUNE 6: In this photo illustration, the Coinbase logo is displayed on a screen on June 6, 2023 in San Anselmo, California. The Securities and Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by operating as an exchange, broker-dealer and clearing agency without registering with the SEC. (Illustration by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
SAN ANSELMO, Calif. – JUNE 6: In this photo illustration, the Coinbase logo is displayed on a screen on June 6, 2023 in San Anselmo, California. The Securities and Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by operating as an exchange, broker-dealer and clearing agency without registering with the SEC. (Illustration by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
Coinbase, MicrostrategyRiot Platforms shares surged on Monday as investors snapped up crypto companies after Bitcoin Rise to highest level in two weeks.
Bitcoin has been on the rise since the assassination attempt on Donald Trump over the weekend, as investors bet that the presumptive Republican nominee is now more likely to win the election in November. Trump has been making increasingly positive comments about cryptocurrencies in recent months, and last week he agreed to be the chairman of the Bitcoin 2024 conference in Nashville.
Bitcoin has risen about 6% in the past 24 hours, trading at around $63,500 as of Monday afternoon.
Shares of Coinbase, the largest centralized digital asset exchange in the United States, rose 12% to $243.27, on track for their best day since February. Bitcoin accounted for 33% of trading volume on the platform in the first quarter, the most ever for any cryptocurrency. Ethereum The trading percentage amounted to 13% of the volume.
Shares of Bitcoin mining company Riot Platforms rose 16%, while shares of rival firm Digital Marathon Bitcoin prices rose by 17%. Miners tend to make money when the price of Bitcoin rises because it increases the value of their operations.
Shares of MicroStrategy, the largest holding of bitcoin, surged 17% on Monday. The stock is up more than 150% this year. On Thursday, the company announced a 10-for-1 stock split, in an effort to “make MicroStrategy stock more accessible to investors and employees.”
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