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Strategy's 25% Gain Leads as Crypto Stocks Soar on Trump Tariff Pause
The president earlier Wednesday announced a pause in his punitive reciprocal tariffs for all countries except China.
Apr 9, 2025, 7:02 p.m. 1 min read
What to know:
- U.S.-listed crypto stocks rallied after President Trump paused tariffs for most countries for 90 days.
- Shares of MicroStrategy and Coinbase jumped more than 20%, while crypto miners also posted big gains.
- Traditional markets are flying as well, with the Nasdaq higher by 10% and the S&P 500 by 8%.
Under far heavier pressure than the rather modest decline in bitcoin over the past few days would suggest, crypto stocks are posting outsized gains as markets surge higher on the Trump tariff pause.
Among the movers are Strategy (MSTR), which rose 25%, while Coinbase (COIN) climbed 21%. Marathon Digital (MARA) and Riot Platforms (RIOT) were among the bitcoin miners posting gains in the teens.
Other movers included Semler Scientific (SMLR) and Fold (FLD), with advances closer to 10%.
The strong uptick was in line with the big move in other U.S. stocks — the Nasdaq rocketing more than 10% higher and the S&P 500 8%.
Bitcoin climbed above $82,000, up more than 6% over the past 24 hours.
The big gains come after a panicky few days in markets that nearly turned into a free fall on Monday and again overnight following President Trump's punitive tariff plan announced last Wednesday.
“I have authorized a 90 day PAUSE," said the president in a Truth Social posting midday today that set off the major rally.
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The S&P 500 posted its longest weekly winning streak since 2023 and Brent oil stabilized near $92 on US-Iran ceasefire hopes. The biggest cryptocurrencies still drifted lower, with Hyperliquid's HYPE the only major name to rally.
What to know:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
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