bitcoin According to analysts, it continues to set new records and shows no signs of slowing down. decryption We talked about it before.
While the world’s largest cryptocurrency surpassed $89,500 on Monday, cryptocurrency-related stocks such as Coinbase, the largest U.S. cryptocurrency exchange, are also seeing gains.
Stock of the San Francisco-based company (Coin: Nasdaq) Monday’s trading session closed at $334.24, according to Google Finance data.
This has increased by almost 20% in the last 24 hours and by almost 84% in the past month. Shares rose 1% to $327.40 in after-hours trading.
The digital asset giant is not far from reaching its debut price of $381 when the company went public during the previous bull market set about three years ago.
Currently, analysts are predicting a high stock price target of around $380 for the next 12 months, with 9 experts recommending a Buy and 8 advising a Hold, according to TipRanks. data.
Coinbase not only allows users to buy and sell major coins and tokens, but also allows the company to Listed in 2021, It also provides custody and other services to virtually all spot Bitcoin ETF issuers, including Wall Street heavyweight BlackRock.
Cryptocurrency-friendly post-Donald Trump won The stock price soared 67% after the US presidential election last week.
President-elect Donald Trump became a cheerleader for Bitcoin and the digital asset industry during his campaign for the White House. He pledged to allow all future Bitcoins to be mined in the United States and allow the United States to become the “crypto capital of the Earth.”
His rhetoric sparked a ‘Trump trade’ in which investors bought tech stocks and cryptocurrencies before and after the election.
Coinbase stock isn’t the only Bitcoin proxy rising significantly. Shares of MicroStrategy, a software company and now a “Bitcoin development” company. hit an all-time high It’s $351 today. The company is the largest publicly traded holder of the asset.
Edited by Sebastian Sinclair
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