Key Takeaways. Cryptocurrency companies witnessed their shares swinging after Bitcoin’s price climbed above $100,000 on late Wednesday. The rally was partly triggered by President-elect Donald Trump’s selection of crypto enthusiast Paul Atkins to lead the SEC. MicroStrategy and Coinbase, along with bitcoin miners Riot Platforms and Mara Holdings, were among the companies whose shares rose and then fell today. Crypto-focused companies had a volatile Thursday as bitcoin traded above $100,000 and then retreated. MicroStrategy (MSTR), the largest corporate holder of Bitcoin and a business intelligence services provider, saw its stock rise by as much as 10% intraday but finished around 4% lower. Crypto exchange Coinbase (COIN) rose before ending the day down 3%. Other stocks that rose early and ended lower included bitcoin mining companies Riot Platforms (RIOT) and Mara Holdings (MARA), both finishing the day down more than 4%. Wednesday’s news that President-elect Donald Trump picked Paul Atkins to lead the Securities and Exchange Commission contributed to the latest round of gains for bitcoin and other crypto assets. Atkins, an SEC Commissioner under former President George W. Bush, has recently been working on issues related to digital assets. Atkins will replace crypto critic Gary Gensler, who said he would step down in January. The prospect of a more crypto-friendly administration has boosted bitcoin prices by more than 50% since the day before Trump’s election win. Bitcoin recently traded closer to $95,000 after earlier topping $103,000.
