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

Key Points

1. Bitcoin hit a new all-time high above $118,500, up 9% from Monday and 6% above its previous peak.

2. Coinbase rose 50% year-to-date, with analysts setting a price target of $510, while Strategy (formerly MicroStrategy) gained 45%.

3. Major Bitcoin miners like CleanSpark and Riot Platforms saw gains of 8% and 7%, respectively, despite declines in June production.

4. BlackRock's iShares Bitcoin Trust (IBIT) reached $80 billion in assets under management, growing faster than any ETF in the industry's 32-year history.

5. The Nasdaq and S&P 500 closed slightly down, while crypto-related stocks and ETFs outperformed amid bullish market sentiment.