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Takeaways
- Bitcoin prices rose slightly Friday, offering a measure of respite after falling in the wake of this week's tariff news.
- Shares in some crypto-related stocks, such as Robinhood Markets and Coinbase Global continued to decline. Recently, shares of Strategy were trading higher.
- Bitcoin is still far below the six-figure levels it reached in February when investors were confident that cryptocurrency would thrive under Trump.
Bitcoin prices rose on Friday, reversing the slide that began after new tariffs were announced earlier this week.
Prices for the top cryptocurrency have crept up to $84,000 after falling below $81,500 on Thursday. Bitcoin fell Wednesday after President Donald Trump announced that he would be imposing a set of “reciprocal tariffs”. This shocked the markets and reduced investors’ appetite for taking risks.
The recovery didn’t extend to other crypto-related shares. Shares of Robinhood Markets, which facilitates cryptocurrency trades, fell 11% since Thursday’s closing, while Coinbase Global, a crypto exchange operator was down by 7%.
The shares of Mara Holdings, a crypto mining company, fell by about 1%. Shares of Strategy, a Bitcoin buyer formerly known as MicroStategy (MSTR), were recently up more than 3% on the day.
Bitcoin is still far below the six-figure prices it achieved in February when investors were confident that Trump’s policy would boost cryptocurrency.
According to CoinMarketCap, the total market capitalization of cryptocurrency has fallen from $3.7 trillion at the end of 2024 to $2.6 trillion today.
