As Bitcoin blazes new trails past $89,500, America’s largest crypto exchange, Coinbase, is riding that same rocket. COIN shares on NASDAQ closed Monday at $334.24, marking a sky-high leap—up nearly 20% in just a day. That adds up to a whopping 84% climb over the past month. After-hours trading nudged the stock a bit lower to $327.40, but with COIN nearing its 2021 debut price of $381, investors are buzzing.
Analysts are seeing Coinbase’s potential reach a near 12-month target of $380. Out of 17 analysts, nine recommend a buy, while eight advise a hold, per TipRanks. As the Bitcoin frenzy grows, Coinbase’s business model, which not only enables BTC trading but also secures custody for major players like BlackRock, has become an attractive option for traders looking to cash in on the crypto wave.
āTrump Tradeā Fuels Coinbase Rally Post-Election
Coinbase’s stock didn’t jump in isolation. The crypto-friendly win of President-elect Donald Trump lit the fuse, propelling COIN up 67% since election week. Known for his pro-crypto stance, Trump’s campaign drew crypto fans as he promised to keep Bitcoin mining open in the U.S. and declared ambitions to make America the “crypto capital of the planet.” Investors, energized by his vows, piled into both tech stocks and digital assets, betting on regulatory support.
The so-called “Trump trade” has sent ripples through the sector, with MicroStrategy, another Bitcoin player, hitting an all-time high of $351. Known as a “Bitcoin development” firm, MicroStrategy holds the largest Bitcoin stash of any publicly traded company, making its stock one more way for traditional investors to gain BTC exposure.
A Rising Market Boosts Crypto-Related Stocks
Bitcoin’s price spike isn’t just bullish for crypto—it’s also igniting traditional stocks linked to the sector. Coinbase’s current trajectory is tied to Bitcoin’s bull run, which has also lifted broader crypto indices, while forecasts predict continued growth. With Bitcoin now reaching near-record heights, demand for related equities has surged, and institutions are jumping on board.
From traders snatching up COIN shares to investors banking on future Bitcoin ETFs, the appetite for crypto-driven growth shows no signs of cooling down. As the U.S. turns toward a more crypto-positive stance, companies like Coinbase are positioned to gain big from the digital finance revolution.
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