Robinhood Stock Soars 15% as Bitcoin Breaks Past $79,000
On Friday, August 21, Robinhood's stock jumped 15% after Bitcoin surged more than 9% and broke past $79,000. This move comes as President Trump met crypto executives at the White House, calling for a 'fair version of the Clarity Act' that would classify digital assets as commodities and split oversight between the SEC and CFTC.
The Treasury Department's decision to double buyback sizes for long-duration bonds also contributed to the rally. FxPro chief market analyst Alex Kuptsikevich noted that this intervention offered relief from higher yields, which usually punish risk assets like crypto.
Robinhood's exposure to trading fees and its tokenized stock product, live in more than 120 countries but blocked from the U.S. market, make it particularly sensitive to regulatory developments. The company's July metrics report showed crypto notional volume at $10.9 billion, already down 33% month over month.
TIKR's mid-case model values Robinhood stock at $247 by December 2030, implying a 128% total return from the current price of $108.