Robinhood Stocks Soar 12% as Bitcoin Breaks Past $75,000

Robinhood Markets stock surged 12% on August 21 as Bitcoin broke past $75,000 for the first time since May. This marked the strongest crypto rally in over two years and drew fresh investor appetite for digital assets and the platforms that trade them.

The price of Bitcoin climbed to $75,268 early Friday, gaining more than $10,000 in just two days. The rally extended a weekly surge of roughly 20%, with Ethereum rising 25% over the same period, according to CoinDesk and Bloomberg data.

President Donald Trump's call for the passage of the CLARITY Act at a White House event on Wednesday sparked the crypto momentum. The legislation would define whether cryptocurrencies qualify as securities or commodities. 'We need Congress to take the next step by passing the CLARY Act, a fair version of the CLARY Act,' Trump said.

The U.S. Treasury's intervention in bond markets also bolstered appetite for riskier assets like cryptocurrencies. This combination of policy optimism and monetary support triggered sharp moves across crypto holdings and the stocks of companies that profit from crypto trading volume.