Coinbase and Strategy Set Stock Records Amid Bitcoin, Ethereum Spikes

Key Points

1. MicroStrategy (MSTR) closed at a record market cap of over $128 billion, with its stock price up 3% on the day and nearly 10% over the week.

2. Coinbase (COIN) hit a record closing price of $398.20, up 2.6% on the day and 6.5% over the week, with a market cap of $101.42 billion.

3. The rally in these stocks is attributed to increasing confidence in institutional crypto infrastructure, with Coinbase seen as a regulated on-ramp and MicroStrategy as a Bitcoin proxy.

4. Other crypto-linked stocks, such as SharpLink Gaming (SBET) and BitMine Immersion Technologies (BMNR), also saw significant gains.

5. Major stock indices like the S&P 500 and Nasdaq rose slightly on the same day, with the S&P 500 up 0.32% and the Nasdaq up $0.25%.