Major Trade Agreement Reached Between China and the United States
On Monday, the United States and China reached a significant trade agreement, announcing a “temporary suspension” of tariffs on the majority of each other’s goods. This move symbolizes a clear easing of the tense trade relations that have characterized recent years, injecting a strong dose of confidence into global markets, with all three major U.S. stock indices rising. BitMEX founder Arthur Hayes also exclaimed: “Buy everything!” Meanwhile, cryptocurrency exchange Coinbase will be joining the S&P 500 index, and MicroStrategy has purchased more Bitcoin, all indicating a return of optimistic sentiment in the market!
U.S.-China Trade War Ceasefire! Tariffs Slashed to 10%, Market Rebounds
Coinbase Joins the S&P 500 Index
Cryptocurrency exchange Coinbase will replace Discover Financial Services as it joins the S&P 500 index, with the change taking effect before trading on May 19. Coinbase’s stock price rose by 8% in after-hours trading.
Since its IPO in 2021, Coinbase has become a more significant component of the U.S. financial system. The value of Bitcoin has surged, and large institutions have received regulatory approval to create spot Bitcoin exchange-traded funds, prompting traditional financial giants to venture into the cryptocurrency space.
Joining the S&P 500 index typically helps drive stock prices higher, as funds that track the index will add it to their portfolios.
CEO Brian Armstrong happily shared:
Coinbase has just become the first and only cryptocurrency company to join the S&P 500 index. This milestone represents what true believers—from retail investors to institutional investors, and to our employees and partners—have always known: cryptocurrency is here to stay.
MicroStrategy Buys More Bitcoin, Holdings Now at 568,840
Pioneer in Bitcoin reserve strategy MicroStrategy has purchased more Bitcoin, spending approximately $1.34 billion to acquire 13,390 Bitcoin last week (from May 5 to May 11), with an average purchase price of approximately $99,856, bringing its total holdings to 568,840 Bitcoin.
This purchase also involved raising funds of $1.31 billion and $251 million through the issuance of common stock (MSTR) and preferred stock (STRK) to buy Bitcoin.
Arthur Hayes: “Buy Everything”
Following the announcement of the positive tariff news between the U.S. and China, BitMEX founder Arthur Hayes shouted: “Buy everything!”
In an interview at Token 2049 held in Dubai on May 1, he stated that his fund, Maelstrom, has fully committed to increasing its Bitcoin position and predicted that the next wave of funds would flow into “high-quality altcoins with real revenues.” He also asserted that quantitative easing (QE) will restart, indicating that this Bitcoin bull market has just begun.
(Quantitative Easing Will Ignite the BTC Bull Market! Arthur Hayes: Bitcoin Will Bottom at $74K, and a Season of Fundamental Altcoins is Coming)
BUY EVERYTHING CHI-MERICA LIVES!!!!
pic.twitter.com/vCLeHfATHc
— Arthur Hayes (@CryptoHayes) May 12, 2025
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices can be highly volatile. You may lose your entire principal. Please assess risks carefully.