Coinbase, Strategy, Other Bitcoin and Crypto Stocks Soar in Record-Setting Week

Crypto-focused companies benefited from the surge in crypto markets this week.
Bitcoin hit new highs on Thursday and Friday.
Coinbase, major miners, and a number of Nasdaq-listed crypto companies also shot up.
BlackRock's spot Bitcoin exchange-traded fund hit a record high during the week.
Strategy, formerly known as MicroStrategy, closed at $434.58. The software company, which pivoted to become a Bitcoin treasury in 2020, holds nearly 600,000 bitcoin worth approximately $70 billion.
Among leading Bitcoin miners, CleanSpark (CLSK) and Riot Platforms (RIOT) rose 8% and 7%, respectively over the past week. Earlier this month, those firms and MARA all reported declines in June Bitcoin production.
Crypto-focused exchange traded funds also thrived with BlackRock's iShares Bitcoin Trust (IBIT) closing near its all-time high. On Thursday, the spot Bitcoin fund reached $80 billion in assets under management, faster than any ETF in that industry's 32-year history, according to Bloomberg data. IBIT's share price rose 9% during the week, while the iShares Ethereum Trust (ETHA) jumped more than 17% for the period.
Bitcoin hit a new all-time high this week on following comments by crypto-friendly President Trump that the economy and stock market in general was doing well and that the Federal Reserve should now lower interest rates.


https://decrypt.co/329740/coinbase-strategy-bitcoin-and-crypto-stocks-soar-record-week