Coinbase, Robinhood, Strategy Jump—and They’re Set for More Crypto Gains

Coinbase signage during the company’s initial public offering in April 2021. (Michael Nagle/Bloomberg)

Key Points

• Coinbase and other crypto-linked stocks surged on Thursday after President Donald Trump urged Congress to pass digital asset legislation.
• The proposed Clarity Act would regulate Bitcoin and other cryptocurrencies as commodities instead of securities.
• Bitcoin rose 11% to $71,755 over the past 24 hours, reaching its highest level since early June.

Coinbase and other crypto-linked stocks were surging again on Thursday after President Donald Trump urged for Congress to pass digital asset legislation, sparking a rally in Bitcoin and other tokens.

Shares of crypto exchange Coinbase jumped 5.8% ahead of the opening bell, having closed up 10% on Wednesday. Online trading platform Robinhood climbed 2.4% and Bitcoin investor Strategy rallied 8.8%.

The moves higher came after Trump on Wednesday made the case for Congress to pass the Clarity Act, which would regulate Bitcoin and other cryptos as commodities instead of securities. The bill faces a procedural vote on Sept. 15.

The summit, combined with the Treasury’s move Wednesday to shore up confidence in the bond market, sparked a rally in Bitcoin.

Created with Highcharts 9.0.1Source: FactSetAs of Aug. 19, 4 p.m. ET

Created with Highcharts 9.0.1RobinhoodCoinbaseStrategy2026Aug.-50-40-30-20-10010203040%

The world’s largest crypto was up 11% to $71,755 over the past 24 hours to hit its highest level since early June, according to Dow Jones Market Data.

Bitcoin and other digital assets have struggled in 2026 due to a combination of macroeconomic headwinds, slow progress of legislation, and cooling inflows into exchange-traded funds.

That’s weighed on crypto-linked stocks. Coinbase, Robinhood, and Strategy were down 29%, 15%, and 31% for the year through Wednesday’s close.

Write to George Glover at george.glover@dowjones.com

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