Coinbase, MicroStrategy and Bitcoin Mining Shares Rise Amid Upbeat Market Turn

American crypto giant Coinbase has seen a resurgence in its share price, surpassing the $300 mark for the first time since 2021.

The rally was also witnessed in shares of business analyst firm and major Bitcoin (BTC) holder MicroStrategy, whose price hit an all-time high after rising to $344.

Both developments followed a runaway performance in Bitcoin, which saw the cryptocurrency breach its all-time high price (ATH) several times in quick succession in the past 24 hours.

Coinbase rises 20%, MicroStrategy breaks record

Coinbase (COIN) shares surged 20% on November 11, closing the day at an impressive $334.24, according to data from Google Finance. The jump represented an 84% improvement in the company’s shares in a period of just 30 days, highlighting the growing confidence of investors in crypto-related assets.

While after-hours trading saw COIN shares drop slightly to $324.24, they still maintained strong momentum, with analysts now setting even higher price targets for the stock .

Meanwhile, MicroStrategy (MSTR), which holds more than $24 billion in BTC, saw its shares rise nearly 26% to $351, a new ATH, before settling at $340 dollars

Industry observers have suggested that these skyrocketing prices go beyond traditional market dynamics. Donald Trump’s victory in the recent US presidential election is said to have sparked optimism among crypto investors, sparking an unprecedented upward trajectory in BTC and the broader digital asset market.

Many believe that a Trump administration will likely take a friendlier stance toward crypto, which could provide headwinds to digital asset prices, as seen in recent days.

With Bitcoin setting new ATHs several times in the past 24 hours, companies like Coinbase and MicroStrategy, which have a strong interest in the cryptocurrency, were bound to benefit. MicroStrategy has the largest corporate Bitcoin treasury in the world, with nearly 280,000 BTC valued at around $24.9 billion. Its aggressive crypto strategy has paid off, with the company outperforming all major US stocks, including Nvidia.

On the other hand, Coinbase’s role as a custodian of spot Bitcoin ETFs, including those of Wall Street giant BlackRock, has strengthened its position as a key player in the crypto market.

Mining stocks react to BTC surge

The rise in share prices was also felt by several publicly traded Bitcoin mining operations, including Marathon Digital ( MARA ), Riot Platforms ( RIOT ), and Cleanspark ( CLSK ).

Marathon shares are up nearly 30%, closing the day at $25.01, while Riot’s finished nearly 16% higher at $14.97. Meanwhile, CLSK shares also surged nearly 30% to $17.61, reaching a market capitalization of $4.55 billion.

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