By Callum Keown
If you've just woken up and checked the biggest stock movers ahead of the open, you're not still dreaming. Strategy, Coinbase and Robinhood stocks are, in fact, among the best performers in premarket trading.
Strategy, the largest corporate holder of Bitcoin, was jumping more than 7% -- crypto exchange Coinbase rose 6% and trading platform Robinhood was 4% higher.
The trio tend to move closely in tandem with cryptocurrencies and Wednesday is no different. The price of Bitcoin surged to $71,269 early in the day, up close to 7% over the past 24 hours, according to CoinDesk data.
The world's largest cryptocurrency has not behaved like a haven -- it's down 44% from its record high of above $126,000 in early October, compared with gold's 30% rise over the same period. But it has performed well since the U.S. attacked Iran at the weekend, after an initial slump to $63,000.
Stock futures were rising early Wednesday as investors continued to weigh up whether the Iran War is likely to end soon. Iran's Ministry of Intelligence reached out indirectly to the CIA with an offer to discuss terms to end the conflict, the New York Times reported early Wednesday.
But Bitcoin may actually also be benefiting from its huge drawdown. Highflying assets have been hit hard in recent days, including Sandisk and Micron, while poor performers such as software stocks have held up well. Even haven asset gold -- up 20% this year -- fell sharply Tuesday despite the Middle East conflict escalating.
Write to Callum Keown at callum.keown@dowjones.com
This 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.
(END) Dow Jones Newswires
March 04, 2026 07:05 ET (12:05 GMT)
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