SAN ANSELMO, CA – JUNE 6: In this photo illustration, the Coinbase logo is displayed on a screen in San Anselmo, California on June 6, 2023. The U.S. Securities and Exchange Commission filed a lawsuit against cryptocurrency exchange Coinbase, accusing it of violating securities laws by acting as an exchange, broker and clearing house without registering with the SEC. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
SAN ANSELMO, CA – JUNE 6: In this photo illustration, the Coinbase logo is displayed on a screen in San Anselmo, California on June 6, 2023. The U.S. Securities and Exchange Commission filed a lawsuit against cryptocurrency exchange Coinbase, accusing it of violating securities laws by acting as an exchange, broker and clearing house without registering with the SEC. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images
Coin library, micro strategyRiot platform surged on Monday as investors piled into cryptocurrency companies Bitcoin’s rebounded to a two-week high.
The price of Bitcoin has been rising since Donald Trump was assassinated over the weekend, with investors betting that the presumptive Republican nominee is now more likely to win the November election. Trump has become increasingly bullish on cryptocurrencies in recent months, and last week he signed on to headline the Bitcoin 2024 conference in Nashville.
As of early Monday afternoon, Bitcoin had gained about 6% in the past 24 hours and was trading around $63,500.
Shares of Coinbase, the largest centralized digital asset exchange in the United States, rose 12% to $243.27, the best one-day gain since February. In the first quarter, Bitcoin accounted for 33% of the platform’s trading volume, by far the largest volume of any cryptocurrency. Ethereum Accounting for 13% of the total.
Bitcoin miner Riot Platforms surges 16%, while rivals marathon numbers Soared 17%. When Bitcoin prices rise, miners tend to benefit because it increases the value of their operations.
Microstrategy, the largest corporate holder of Bitcoin, rose 17% on Monday. The stock is up more than 150% this year. On Thursday, the company announced a 10-for-1 stock split to “make MicroStrategy stock more accessible to investors and employees.”
watch: BlackRock CEO talks Bitcoin
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