Coinbase News: Crypto Stocks Witness Surge Amid Bitcoin and Tech Sector Gain

The cryptocurrency industry experienced a significant boost on Monday, with stocks soaring amidst a surge in digital assets and broader risk-on investments. One of the prominent players in this space, MicroStrategy (now simply known as Strategy), witnessed a remarkable increase in its share price.

Crypto Stocks Soar as Bitcoin, Tech Sector Gain

The share price of companies focused on the cryptocurrency industry shot up Monday amid a surge in digital assets and other risk-on investments. Strategy—formerly known as MicroStrategy—closed up by more than 10%, trading at $335.72 a share. The software company, which trades under ’MSTR’ ticker, is the largest corporate holder of Bitcoin. On Monday, it announced that it had surpassed more than 500,000 Bitcoin in its holdings after its latest purchase, valued at $44.2 billion. The largest U.S. crypto exchange, Coinbase (NASDAQ: COIN) was up 7% Monday afternoon Eastern Time, with a price of $203.

U.S. Government Gears Up for Massive Bitcoin Reacquisition – Rumours

Reports from multiple sources indicate the U.S. government has deepened its ties with Coinbase and several other American exchanges, as well as major OTC desks, in anticipation of a massive Bitcoin block trade. This move allegedly aims to re-acquire BTC that was mistakenly sold under the Biden administration, suggesting involvement in the cryptocurrency market. Though details remain scarce, insiders claim this decision highlights the federal government’s evolving approach to digital assets and its willingness to make bold, strategic crypto moves.