Coinbase (COIN) soars 18%, Strategy (MSTR) soars 10% as crypto stocks soar
There was a shift towards risk assets in the US market today, with crypto-related stocks such as Coinbase and Strategy leading the brightest gains of the day. Exposure to digital assets helped certain high-beta stocks outperform, even as broader indexes like the Dow and S&P 500 traded mixed based on inflation and economic data.
Coinbase (COIN) was one of the standout performers. COIN soared more than 18% on the day, finishing well ahead of most traditional technology stocks as traders “bought on the edge” of crypto exposure.
The day’s gains came despite a difficult earnings background. Coinbase reported a loss of $666.7 million in the fourth quarter of 2025, its first loss in several quarters, due to lower trading revenue due to lower trading volumes of crypto assets.
Long-term revenue sources such as subscriptions and services, particularly stablecoin revenue, performed well, contributing to easing sentiment.
Over the past few months, Coinbase stock has fallen as the overall cryptocurrency market has weakened and analysts have become more cautious.
Mones Crespi & Hard downgraded $COIN from Buy to Neutral, set a price target of $120, and warned of downside risks due to softening market conditions.
The stock has struggled since the start of 2026, down about 34% since the beginning of the year, as Bitcoin has fallen about 30% in the past month and altcoins have posted even steeper losses. Falling cryptocurrency prices have reduced trading volumes, squeezing one of Coinbase’s main revenue drivers.
Meanwhile, CEO Brian Armstrong sold more than 1.5 million shares worth about $545 million as part of a diversification effort.
A good day for Strategy’s (MSTR)
Strategy (MSTR) also recorded notable upside on the day, with its stock price rising about 10% in line with the rebound in Bitcoin prices. Strategy stock fluctuated dramatically along with Bitcoin’s price, dropping significantly on the cryptocurrency’s broader selloff, but rebounding later this week as the market stabilized.
Despite the turmoil, Strategy remains committed to growing its Bitcoin wealth. The company revealed this week that it purchased over 1,100 more BTC, spending about $90 million at an average price near the low $70,000s.
Strategy also announced its latest financial results, which reflect the risks on its balance sheet centered on Bitcoin.
The company posted a multibillion-dollar loss in the quarter, primarily related to the decline in the market value of its Bitcoin holdings, highlighting that despite the company’s long-term holding stance, price declines can have a significant impact on its reported financial performance.
Executive Chairman Michael Saylor has continued to publicly defend the strategy, repeating that the company has no intention of selling Bitcoin due to the economic downturn and insisting that the company is well-positioned to withstand long-term fluctuations in the price of Bitcoin.
Other crypto-related stocks rose as well today, with Circle (CRCL) up about 7% and Galaxy Digital (GLXY) up 6.5%, continuing the sector’s upward momentum.
The post Coinbase (COIN) soars 18%, Strategy (MSTR) rises 10% as crypto stocks jump first appeared in Bitcoin Magazine and was written by Micah Zimmerman.
