Coinbase stock is surging
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Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.
Even as the top digital asset dips below $104K, crypto-linked equities—including Coinbase, Robinhood, and major miners—are flashing green.
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Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
The deal with Deribit includes $700 million in cash and 11 million shares of Coinbase Class A common stock, according to the companies, making it one of the largest deals in the i
CEO Brian Armstrong added that Deribit’s acquisition is his company’s “biggest move yet” to expand internationally.
Coinbase reportedly considered adopting a Bitcoin-heavy treasury strategy similar to that of MicroStrategy but ultimately decided against it.
Coinbase has recently unveiled a series of updates that underscore its commitment to the mainstream adoption of digital assets.
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