Coinbase, MicroStrategy, Bitcoin Miner Shares Rise Amid Optimistic Market Turnover

American crypto giant Coinbase has seen a share price correction, climbing above $300 for the first time since 2021.

The rally was seen by corporate analytics firm and major bitcoin (BTC) owner MicroStrategy, whose price rose to $344.

Both developments followed Bitcoin's performance in the past 24 hours, where it broke its all-time high (ATH) price several times in quick succession.

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Coinbase Up 20%, MicroStrategy Breaks Record

In the year On November 11, Coinbase's stock (COIN) surged 20%, closing the day at an impressive $334.24, according to data from Google Finance. The jump represents an 84% correction in the company's stock over a 30-day period.

While COIN shares were down slightly to $324.24 in after-hours trading, they still maintained strong momentum, with analysts now issuing higher price targets for the stock.

Meanwhile, MicroStrategy (MSTR), which holds more than $24 billion in BTC, surged nearly 26% to hit a new ATH, $351 a share before settling at $340.

Industry watchers have pointed out that these rising prices are outpacing traditional market volatility. Donald Trump's victory in the recent US presidential election is said to have created optimism among crypto investors, leading to an unprecedented upward trend in BTC and the broader digital asset market.

Many feel that the Trump administration may take a friendly stance on crypto, which could provide a tailwind to digital asset prices as seen in the past few days.

With Bitcoin setting up new ATMs several times over the past 24 hours, companies with a strong interest in the cryptocurrency, such as Coinbase and MicroStrategy, have taken advantage. MicroStrategy holds the largest corporate Bitcoin treasury in the world, holding 280,000 BTC worth nearly $24.9 billion. The aggressive crypto strategy has paid off, with the company outperforming any major US stock, including Nvidia.

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

Mining stocks respond to the BTC Surge

Share price gains were felt by publicly listed bitcoin miners, including Marathon Digital ( MARA ), Riot Platforms ( RIOT ), and Cleanspark ( CLSK ).

Marathon stock is up nearly 30% to close the day at $25.01, while Riot Racing is up 16% at $14.97. Meanwhile, CLSK shares surged nearly 30 percent, hitting $17.61 and a market value of $4.55 billion.