Pre-Market Trading in U.S. Crypto Stocks Explodes, With MicroStrategy Topping $300
Pre-Market Trading in U.S. Crypto Stocks Explodes, With MicroStrategy Topping $300
As bitcoin climbs above $82,000, U.S. crypto equities are soaring in pre-market trading, with Semler Scientific leading with a 25% gain.
- Crypto equities in the U.S. are up more than 10% across the board as bitcoin climbs above $82,000 to a new record.
- Semler Scientific is leading the pack, with a 25% gain in pre-market trading.
- MicroStrategy shares climbed above $300.
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR), Riot Platforms (RIOT), Semler Scientific (SMLR) and Marathon Digital Holdings (MARA).
Bitcoin (BTC), the leading token by market capitalization, surpassed $82,000 for the first time in its history over the weekend, spurring price gains in U.S. crypto equities before the official start of trading.
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MicroStrategy, the publicly traded company holding the largest amount of bitcoin, 252,200 BTC, rallied 11% to more than $300 a share. Copycat Semler Scientific surged 25% and is approaching a high for the year. Crypto exchange Coinbase added almost 17%.
MARA (MARA) is leading gains among miners, up almost 20%. The positive price action is helped by the bitcoin held on its balance sheet, which is 26,842 BTC, a level surpassed only MicroStrategy.
Other notable miner performances include Riot Platforms (RIOT), IREN (IREN) and HIVE Digital Technologies (HIVE), all up double digits.
In addition, on Nov. 8, CleanSpark (CLSK) addressed the trading halt that occurred on Nov. 7 due to a clerical warrant conversion error, with the company’s acquisition of GRIID on Oct. 30.
“An issue relating to the calculation of the number of outstanding warrants (Nasdaq: CLSKW) (the “Warrants”) and the number of shares underlying those Warrants. The trading halt is not the result of any issue associated with CleanSpark’s business, operations, filings with the SEC, financial statements or securities,” the fir, said.
UPDATE (Nov. 11, 12:37 UTC): Adds detail on CleanSpark trading halt.
James Van Straten
As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment. Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics. James specializes in daily monitoring of ETFs, spot, futures volumes, and flows to understand how Bitcoin interacts within the financial system. James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR) and Semler Scientific (SMLR).
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