Crypto Stocks Rally: Coinbase (COIN) Soars 18%, Strategy (MSTR) Gains 10%

TLDR

• Coinbase (COIN) surged by 18% despite reporting a $666.7 million loss in Q4 2025 due to lower trading revenue.
• The increase in Coinbase’s stock came from strong long-term revenue growth, particularly in subscription and stablecoin services.
• Strategy (MSTR) rose 10% as Bitcoin prices rebounded and the company disclosed a purchase of over 1,100 BTC.
• Despite a multi-billion dollar quarterly loss, Strategy remains committed to holding Bitcoin through market downturns.
• Other crypto-linked stocks, including Circle (CRCL) and Galaxy Digital (GLXY), also saw positive gains in line with the sector’s upward momentum.

U.S. markets saw a rotation into risk assets today, with crypto-linked stocks such as Coinbase and Strategy among the biggest gainers. Despite mixed performances from broader indexes like the Dow and S&P 500, digital-asset exposure helped certain high-beta stocks outperform. Coinbase (COIN) surged more than 18%, while Strategy (MSTR) rose around 10%, benefitting from the rebound in Bitcoin prices.

Coinbase (COIN) Gains 18% Amid Mixed Earnings Results

Coinbase (COIN) was one of the standout performers in today’s market. The stock rose by over 18%, as traders took advantage of a dip in crypto exposure. The increase came even as the company posted a challenging earnings report for Q4 2025, with a loss of $666.7 million. This was its first quarterly loss in several quarters, driven by lower trading revenue as crypto trading volumes dropped.

Despite the loss, Coinbase managed to show strength in other areas. Long-term revenue streams, particularly subscription and services, helped cushion the negative sentiment. Stablecoin revenue, a major contributor, performed well. These factors allowed the company to maintain positive momentum, despite a tough earnings backdrop.

The stock has been under pressure in early 2026, having fallen roughly 34% year-to-date. Bitcoin prices have dropped about 30% in the past month, leading to lower trading volumes and squeezing one of Coinbase’s main revenue drivers. Analysts have expressed caution, with Monness Crespi & Hardt downgrading the stock from “buy” to “neutral” and setting a $120 price target.

Strategy (MSTR) Posts 10% Jump, Remains Committed to Bitcoin

Strategy (MSTR) also saw strong gains, rising about 10% as Bitcoin prices rebounded. Shares of the company have fluctuated heavily in line with Bitcoin’s price movements. Strategy’s commitment to adding to its Bitcoin treasury was also a key driver for the uptick. The firm disclosed the purchase of over 1,100 BTC, spending roughly $90 million at an average price near the high-$70,000 range.

Despite market turbulence, Strategy’s focus on holding Bitcoin through downturns has remained unchanged. The company posted a multi-billion dollar quarterly loss, mostly due to declines in the value of its Bitcoin holdings. Executive Chairman Michael Saylor reiterated the company’s strategy, stating that it would not sell Bitcoin during price downturns.

While the company’s Bitcoin-heavy balance sheet poses risks, Strategy has maintained a long-term holding posture. Saylor continues to defend this approach, emphasizing that the company is positioned to withstand extended volatility in Bitcoin’s price. These statements helped bolster investor confidence, despite the challenges faced in recent months.

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