Coinbase, MicroStrategy over jumps 5% as Bitcoin looks to break $68K

The global digital assets market broadly printed green indexes on Friday as Bitcoin breached the $67,000 mark. Similar bullish sentiments were spotted in crypto-related equities as shares of Coinbase Global (COIN) and MicroStrategy (MSTR) price surged by over 5% each in the pre-market.

Bitcoin price jumped by around 5% over the last day sending positive waves to the altcoins to recover from the recent dump. The fresh surge comes ahead of the Republican presidential candidate Donald Trump’s scheduled keynote address at the Bitcoin Conference 2024.

Coinbase shares jump by 5%

Data shows that Coinbase share price jumped by over 5% in the pre-market trading. COIN had recorded a marginal decline of around 2% in the last 5 trading days. Its price stood at $231.52 in the last trading session.

US’s biggest crypto exchange recently appointed three new directors to its board. The 8-K filing with the Securities and Exchange Commission (SEC) disclosed that Coinbase’s board had expanded to 10 members after the inclusion of  Paul Clement, Christa Davies, and Chris Lehane.

MicroStrategy goes up by 224% in 6 months

MicroStrategy share price climbed 5.26% in the pre-market session depicting an optimistic outlook for the company. MSTR had recorded a 224% surge in its share price over the past 6 months. It traded at $1,606 in the last session.

As of June 24, 2024, MicroStrategy owns more than 226K Bitcoins at an average purchase price of  $35,158 per BTC.

Marathon Digital (MARA) reported a 6% jump in the pre-market zone. One of the biggest Bitcoin mining firms recently bought $100 million worth of BTC. The company mentioned that it will re-adopt the HODL strategy. MARA holds more than 20K Bitcoin (approximately worth $1.4 billion) and plans to buy more.

In a similar trend, Riot Platforms and Cipher Mining saw a spike of 6% and 7%, respectively.

Is this the Trump magic?

Former US President Donald Trump is set to address crypto enthusiasts in Nashville, while, he has already declared himself as a “crypto candidate.” This might be the first time a presidential candidate would attend the conference.

It has sparked bullish sentiment in the digital assets market as the biggest of the cryptos recovered from the recent heavy dump. However, it remains unclear whether Trump would gain support from the community.

As reported, the Republican presidential nominee has raised more than $4 million in different crypto tokens. People had donated in Bitcoin, Ether, XRP, stablecoins, and several meme coins.

Bitcoin printed the green index on Friday after witnessing a heavy dump yesterday. BTC is pumping by 6% in the last 24 hours. The biggest crypto is now up by 60% on year to date period. It is trading at an average price of $67,795, at the press time.