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Shares of MicroStrategy (MSTR) spiked more than 20% on March 4, as the price of Bitcoin crossed $67,000. Meanwhile, Bitcoin has made a new all-time high against the euro at 60,000 euros per coin, with the Mexican peso being its next target. Elsewhere, Coinbase has introduced embedded smart contracts for developers — a move it says will address devs’ pain points when building Web3 applications.
MSTR stock spikes over 20% as Bitcoin approaches all-time high
Shares of MicroStrategy (MSTR) spiked on March 4, as Bitcoin’s ongoing price rally provided the business intelligence firm with additional rocket fuel.
MSTR surged more than 20% in intraday trading to peak at $1,339. It would later pare some of those gains, but remained firmly above $1,260.
The company’s stock is experiencing a huge tailwind as Bitcoin approaches a new all-time high. The BTC price crossed $67,000 on March 4, having gained more than 56% over the past month.
As Cointelegraph reported, MicroStrategy added another 3,000 BTC to its balance sheet in mid-February, bringing its total holdings to 193,000 BTC. Chairman Michael Saylor has repeatedly stated that he and MicroStrategy intend to keep buying Bitcoin “forever.”
Bitcoin passes new all-time high in euros
Bitcoin has passed a new all-time high against the euro as the cryptocurrency’s price reached a new multiyear high of $65,000.
According to data from TradingView, Bitcoin touched 60,393 euros at 8:30 am UTC, surging about 5% from its intraday low of 57,521 euros. At the time of writing, Bitcoin is trading at 59,981 euros, up around 56% year-to-date.
River Intelligence marketing head Sam Wouters said the Mexican peso is the next most ambitious target for Bitcoin to smash. According to data from Xe.com, BTC is trading at 1.1 million pesos at the time of writing, down about 24% from its previous high of roughly 1.4 million pesos set in November 2021.
Coinbase expands wallet-as-a-service offerings
Crypto exchange Coinbase has introduced embedded smart wallets for developers, allowing better integration across Ethereum Virtual Machine (EVM) applications.
According to the announcement, the exchange’s new smart wallet solutions allow users to take their crypto balances with them across different EVM-compatible applications integrated with the Coinbase Wallet SDK. The embedded wallet feature allows developers to incorporate noncustodial white-labeled wallets into their applications.
“We’ve learned a lot from our customers in the past year, and we’ve been working a lot to improve the product experience of all of the services, and where we’ve arrived at is the Embedded Wallets. So, it’s been really a continuous effort for the past year,” - Yuga Cohler, senior engineering manager at Coinbase Embedded Wallets, told Cointelegraph in an interview.
The solutions expand on Coinbase’s wallet-as-a-service product line, which allows developers to integrate crypto wallets into their own applications without having to create new technology.
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