TLDR
- Crypto stocks enjoyed a significant upswing on Monday, with Strategy (MSTR) increasing by 10%, Coinbase rising 7%, and mining companies like CleanSpark seeing an 18% hike.
- Bitcoin's value hovered around $87,350, appreciating by 2.2% over the day, while Ethereum and Solana also enjoyed gains of 4% and 6% respectively.
- Formerly known as MicroStrategy, Strategy released news of surpassing half a million Bitcoins in its reserves, which are now worth around $44.2 billion.
- Signs that the Trump administration might relax tariffs sparked a rally in the markets.
- Experts highlighted the growing integration between crypto and mainstream financial services, with companies broadening their offerings.
The crypto market experienced a notable uplift on Monday as digital currencies and other risk assets became appealing once more. This upswing followed the White House’s suggestion of easing its tariff stance with key trade allies.
Strategy, which previously operated as MicroStrategy, saw its stock climb over 10%. According to Nasdaq data, the stock wrapped up the day at $335.72 under the ticker 'MSTR'.
The software firm made waves by declaring it had passed a significant threshold, now holding more than 500,000 Bitcoin. This achievement cements its position as the largest corporate Bitcoin holder.
Strategy now maintains about 506,137 Bitcoins, translating to an approximate $44.2 billion at current market prices. The company, based in Tysons, Virginia, has been financing these acquisitions by issuing shares.
Coinbase, the leading cryptocurrency exchange in the U.S., benefited from Monday's market surge. Trading under NASDAQ: COIN, its stock appreciated by 7% by Monday afternoon in Eastern Time, closing at $203.
Public Bitcoin miners weren't excluded from the rally. CleanSpark, known for its low-carbon mining, experienced an impressive 18% boost, with shares reaching $8.79 on Monday.
Riot Platforms and MARA Holdings were among other mining firms that fared well, with RIOT jumping nearly 10% to $9.69 and MARA climbing 18% to $14.61 per share.
The U.S. stock market mirrored the crypto rally, trading higher on Monday after rumors emerged that the Trump administration may be reconsidering some tariffs set for April 2, leading the tech-centric Nasdaq to rise by 2.2%.
Bitcoin, the most valued cryptocurrency, was trading at about $87,350, which marks a 2.2% rise over the past 24 hours, according to CoinGecko data. Other key cryptocurrencies also followed suit.
Ethereum rose over 4%, while Solana outperformed with a 6% increase in the same timeframe, contributing to the wave of positivity within crypto investing circles.
The early March data brought some comfort to anxious investors. The slightly lower-than-anticipated Consumer Price Index, which gauges inflation, soothed markets fretting about possible stagflation.
Stagflation, an economic condition where inflation combines with flat economic growth, has been compounded by Trump's tariff policies impacting trading partners like Mexico, China, and Canada. Although these actions have curtailed Trump's otherwise crypto-friendly policies.
The Trump administration’s actions have had a mixed impact on cryptocurrency markets.
Bitcoin soared to a landmark high above $108,000 post-Trump's inauguration, propelling equity markets similarly. Yet the cryptocurrency recently dipped, sometimes slipping below $80,000.
Throughout his administration, Trump has enacted several crypto-friendly measures, including easing regulations and proposing a special Bitcoin reserve, although details remain scarce.
Cryptocurrency's uneven performance in 2025 was partly due to these uncertainties, as noted by Deutsche Bank analyst Marion Laboure on CNBC, who also pointed out the rising interest in financial tokenization.
Bernstein analysts foresee an increase in links between digital currencies and traditional finance, envisioning a future where crypto exchanges offer not just digital currencies but also tokenized stocks, as brokers scale up their crypto offerings.
Despite the recent uptrend, some crypto stocks still trail behind for the year. Coinbase, described by Rosenblatt analyst Chris Brendler as crypto's blue-chip stock, remains down approximately 22% YTD.
Robinhood (HOOD) rebounded 9.6% on Monday, regaining ground by introducing a new prediction markets feature within its app, broadening its crypto endeavors.
Mining player Hut 8 (HUT) climbed over 7.3% on Monday. Earlier this month, it disclosed plans for a massive data center in Louisiana, showcasing a $2.5 billion investment in a 300MW facility.
The correlation between Bitcoin and tech stocks is still strong. Standard Chartered analyst Geoff Kendrick advises treating Bitcoin more like a technology share than as a buffer against market swings, given its similar movements with the Nasdaq.
