Shares of Coinbase are up over 15% amid approaching bitcoin halving

Shares of financial infrastructure and technology platform, Coinbase (COIN) are up over 15% in trading on February 26, as Bitcoin halving is approaching. The halving process, according to media sources is “when the reward for Bitcoin mining is cut in half. Halving takes place every four years. The halving policy was written into Bitcoin’s mining algorithm to counteract inflation by maintaining scarcity.” Additionally, MicroStrategy (MSTR) announced earlier that, during the period between February 15 and February 25, the company and its subsidiaries, acquired approximately 3,000 bitcoins for approximately $155.4M in cash, at an average price of approximately $51,813 per bitcoin. Other symbols in the space include Riot Platforms (RIOT), Marathon Digital (MARA), and RIOT (RIOT).