Coinbase Stock Hits 1-Year High as Bitcoin Rally Stokes Crypto Comeback

• Coinbase stock rose nearly 6% on Friday to close at $256.62, its highest price since its 2021 direct listing when shares were priced at $250

• Coinbase shares dropped 38% in their first year of trading during the crypto winter, but have surged over 300% in the last 12 months

• The price increase is linked to Bitcoin hitting a new all-time high on Friday and SEC approval of Bitcoin ETFs

• The stock is still down 86% from its 2021 opening price of $381 per share

• Other crypto-linked stocks like MicroStrategy and CleanSpark have also rallied alongside the latest Bitcoin price jump