After U.S. president Donald Trump announced a new crypto policy, the price of several stocks linked to cryptocurrency soared. 90-day pause The majority of the “reciprocal’ tariffs he proposed will be implemented.
Coinbase Strategy and the major Bitcoin miners had swung into positive territory after U.S. market closed. This was a dramatic turnaround from a previous week’s steep declines.
The president You can also read about the importance of this in our article More than 180 countries could benefit from temporary aid “effective instantly,”Although Chinese goods will still face stiff tariffs. This would bring the overall rate to 125%. Since Trump announced his tariffs in March, investors have scrutinized the potential impact on economic growth, inflation, and stock prices.
It was a relief to see the White House reverse its position on Wednesday.
Strategy stock surged by 23%, to $292 per share. Nasdaq. The stock of Strategy has now reached positive territory for the year after the share price dropped to $236, its lowest level in almost a month.
Tysons, Virginia based company that shifted focus from its software business to becoming the largest corporate Bitcoin owner has inspired many. Leveraged exchange traded funds That delivered huge returns. T-Rex2X Long MSTU Daily Target ETF, for instance, rose 46% from $5.20 to approximately $5.20. Yahoo Finance.
Tesla’s stock price rose over 20%, as did the Nasdaq index, a tech heavy index, during this dramatic rally.
According to reports, the crypto exchange Coinbase’s stock rose over 18% to $179 per shares on Wednesday. Nasdaq. Cathie Wood’s Ark Invest has accumulated $31,000,000 in Coinbase stock over the last three days. Cathie’s Ark.
Toronto-based Bitfarms, a Bitcoin miner based in Canada, was one of the Bitcoin miners that saw the biggest jump, with a 26% increase to $0.85. Yahoo Finance. The stock is down about 45% from the previous year.
Many Bitcoin mining companies also saw their stock prices rise by more than 10% Wednesday. These include Cipher Mining (up 18%), TeraWulf (12%), Riot Platforms (13%), CleanSpark 15%, and Marathon Holdings.
Robinhood is a trading platform that allows you to trade. Whose crypto-related Stock prices also soared as revenue increased 700% during the last quarter. Recently, the shares of this firm traded at $42, up 23% in one day.
James Rubin is the editor
