Finance News
By Steven Anderson
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Bitcoin jumped past $73,000 Wednesday. MicroStrategy (MSTR) shares rocketed 12.3% to $148.94 while Coinbase (COIN) soared 16.2% to $211.84, and Robinhood (HOOD) climbed 8.
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The move caught many off guard since Bitcoin had been stuck in a downward spiral for most of February. Galaxy Digital (GLXY) shot up 15% to $23.
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MicroStrategy recently bought another 3,015 bitcoin for around $204 million, bringing total holdings to 720,737 BTC at an average price of $75,985.
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Coinbase's recent meeting with Trump might've helped spark the rally. Trump met with CEO Brian Armstrong before going after banks on Truth Social for blocking crypto legislation.
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"Banks need to negotiate with the crypto industry instead of undermining innovation," Trump posted.
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The fight centers on whether crypto exchanges can offer rewards programs with yields on stablecoins.
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The Senate legislation remains stalled because of the disagreement. Coinbase and other digital firms oppose any restrictions, saying they'd kill innovation.
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Meanwhile, institutional interest keeps growing. Grayscale Bitcoin Trust (GBTC) saw trading volume spike March 3 as big investors jumped in.
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El Salvador bought another 500 Bitcoin March 1. President Nayib Bukele doubled down on the country's Bitcoin strategy despite criticism from international financial institutions.
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Jack Dorsey talked up Bitcoin's potential for financial inclusion at a conference March 2. The Block CEO thinks Bitcoin can help underserved communities access financial services.
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But some analysts stay cautious. They point to Bitcoin's wild price swings and warn investors to stay alert since crypto markets can flip fast.
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The European Central Bank released a report March 3 showing more Europeans are buying crypto.
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Grayscale said March 2 it's considering converting its Bitcoin Trust into a spot ETF. The move could give investors direct Bitcoin exposure and reflects renewed momentum in…
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Trading activity stayed elevated across major platforms Wednesday. Coinbase reported heavy volume as retail investors rushed back in.
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Bitcoin's rally past $73,000 marks a significant turnaround from recent lows. The cryptocurrency hit a one-month high as geopolitical tensions that had weighed on prices seemed…
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