US Stock Market Move | Bitcoin rises to $93,500, Strategy (MSTR.US) up 3.4%

On Tuesday, Bitcoin rose more than 2.5% to surpass $93,500, with Bitcoin-related stocks also following the upward trend. As of the time of writing, Strategy (MSTR.US) rose 3.4%, Coinbase (COIN.US) rose over 3%, Robinhood (HOOD.US) rose 0.9%, Mara Holdings (MARA.US) rose over 1%, and Iren Ltd (IREN.US) rose 0.5%. On the news front, according to a highly anticipated cryptocurrency market structure bill, many digital assets still appear to be able to continue offering rewards to customers holding stablecoins. The U.S. Senate Banking Committee released a bipartisan amendment late Monday in preparation for a hearing scheduled for Thursday. The wording in the amendment seems to aim to prohibit cryptocurrency exchanges from offering rewards related to holding stablecoins, but also clarifies certain activities that may be exempt from this restriction, including specific rewards related to loyalty or incentive program memberships. This wording may be welcomed by companies like Coinbase, which currently offers stablecoin holding rewards to its customers.