MicroStrategy, Coinbase, and Crypto Stocks Tumble After Trump Levies Tariffs — Barrons.com

By Mackenzie TatananniMicroStrategy, Coinbase, and other cryptocurrency stocks fell on Monday after President Donald Trump announced sweeping tariffs on imports from China, Canada, and Mexico.MicroStrategy, the largest corporate holder of Bitcoin, was down 4.5%. Shares of Robinhood Markets, Coinbase Global, and Mara Holdings fell 3.7%, 5.3%, and 6.7%, respectively.Bitcoin has fallen 1.5% over the past 24 hours to $96,346, according to CoinDesk.The declines came amid a broad market selloff that caused the major indexes to open in the red. The S&P 500 fell 1.3%, the Dow Jones Industrial Average declined 1.1%, and the Nasdaq Composite was down 1.8%.Fears of a global trade war hit the market over the weekend after Trump followed through with his promise to impose tariffs and long-time U.S. allies Canada and Mexico vowed to retaliate. Cryptocurrency, while borderless, often magnifies market volatility.The global crypto market has shed more than $400 billion in value since Friday, according to crypto tracker CoinMarketCap. As of early Monday, the Crypto Fear and Greed Index was at 44, with anything below 50 representing a fear-based sentiment.Also on Monday, MicroStrategy revealed that it had gone a week without purchasing any Bitcoin for the first time since early November.In a Form 8-K filed with the Securities and Exchange Commission, the company said it didn't sell any shares of class A common stock under its equity offering program or purchase any Bitcoin during the period between Jan. 27 and Feb. 2, 2025.The company's latest purchase — at the end of last month — was for around 10,107 digital tokens, bringing its total holdings to around 471,107 Bitcoins.Write to Mackenzie Tatananni at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.