Shares of cryptocurrency-tied companies jumped along with the price of bitcoin Wednesday afternoon after President Donald Trump issued a 90-day pause on widespread "reciprocal" tariffs.

Bitcoin ( BTCUSD ), which traded as low as $74,500 Wednesday morning, was trading below $77,000 when President Trump wrote in a Truth Social post just after 1:15 p.m. ET that he was pausing the duties effective immediately, and that a base tariff of 10% on most countries. The largest cryptocurrency soon soared, along with risk assets like equities, surging to roughly $83,000 in recent trading.

Shares of bitcoin buyer Strategy ( MSTR ), formerly known as MicroStrategy, and trading platform Robinhood Markets ( HOOD ) jumped 24% and 22%, respectively. Crypto exchange Coinbase ( COIN ) soared 19%, bitcoin miner MARA Holdings ( MARA ) added 17%, and Riot Platforms ( RIOT ) gained 11%.

Read the original article on Investopedia