Coinbase, MicroStrategy Shares Are Surging: What's Going On?
Portfolio Pulse from Adam Eckert
Crypto-related stocks Coinbase Global Inc (COIN) and MicroStrategy Inc (MSTR) are trading higher as Bitcoin (BTC) continues to rise on spot ETF optimism. Bitcoin is up nearly 13% over the last 24 hours and more than 22% over the last week. Major U.S. financial firms including BlackRock have made changes to their pending applications for spot Bitcoin ETFs. Coinbase is set to release its Q3 financial results on Nov. 2, while MicroStrategy is due to report Q3 earnings on Nov. 1.
October 24, 2023 | 1:19 pm
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POSITIVE IMPACT
Bitcoin is up nearly 13% over the last 24 hours and more than 22% over the last week, driven by optimism surrounding spot ETFs.
The rise in Bitcoin is driven by optimism surrounding spot ETFs. This could continue to drive up the price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Coinbase shares are trading higher due to the rise in Bitcoin and the optimism surrounding spot ETFs. The company is set to release its Q3 financial results on Nov. 2.
The rise in Bitcoin and the optimism surrounding spot ETFs are driving up Coinbase shares. The upcoming Q3 results could further impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroStrategy shares are trading higher due to the rise in Bitcoin. The company, which holds a significant amount of Bitcoin, is due to report Q3 earnings on Nov. 1.
The rise in Bitcoin is driving up MicroStrategy shares. The upcoming Q3 results and the company's significant Bitcoin holdings could further impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100