Coinbase Global, the United States’ largest cryptocurrency exchange, rose after news of Bitcoin’s sharp rally lifted investor sentiment. On March 2, local time, Coinbase’s stock climbed 4.04% from the prior close, trading at $182.96. Bitcoin’s price surged intraday and briefly breached the $70,000 mark, energizing appetite for crypto risk assets.
The rally also buoyed MicroStrategy Inc. (MSTR), a crypto-focused financial firm that holds a large amount of Bitcoin, whose shares rose early in trading, up 5.60% to $136.76 at the same time. The combined strength in Bitcoin and related equities underscored renewed investor interest in the crypto sector.
Investors priced in continued crypto demand as traders monitored price levels around the $70,000 mark. The upbeat momentum in Bitcoin and major crypto-related stocks suggests the rally could extend through the session.
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