Crypto-linked shares jump premarket as Bitcoin clears $59,000 By Investing.com
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Investing.com — Shares in cryptocurrency-related companies jumped in premarket U.S. trading on Wednesday after surpassed the $59,000 mark, extending a rally in the digital asset into a fifth consecutive day.
By 05:22 ET (10:22 GMT), the price of Bitcoin had risen by 4.6% to $59,202.5, placing the world’s most popular cryptocurrency within touching distance of an all-time high of more than $68,000 reached in 2021. It has surged by more than 16% in the past seven days.
Top crypto exchange Coinbase (NASDAQ:), as well as crypto miners Marathon Digital (NASDAQ:), Riot Platforms (NASDAQ:), CleanSpark (NASDAQ:), Cipher Mining (NASDAQ:) and Bit Digital (NASDAQ:), all climbed prior the opening bell in New York.
Bitcoin’s stellar performance this year has been spurred on in part by the recent U.S. approval of exchange-traded funds that directly track the price of the token.
The approvals have drawn a slew of institutional capital into Bitcoin. However, retail trading volumes have remained relatively muted, in an indication that faith in the crypto industry has potentially been dented by a string of high-profile scandals and bankruptcies.
An announcement from MicroStrategy Incorporated (NASDAQ:), the biggest corporate holder of Bitcoin, that it had recently purchased 3,000 tokens for about $155 million has also supported the cryptocurrency.
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© Reuters
Investing.com — Shares in cryptocurrency-related companies jumped in premarket U.S. trading on Wednesday after surpassed the $59,000 mark, extending a rally in the digital asset into a fifth consecutive day.
By 05:22 ET (10:22 GMT), the price of Bitcoin had risen by 4.6% to $59,202.5, placing the world’s most popular cryptocurrency within touching distance of an all-time high of more than $68,000 reached in 2021. It has surged by more than 16% in the past seven days.
Top crypto exchange Coinbase (NASDAQ:), as well as crypto miners Marathon Digital (NASDAQ:), Riot Platforms (NASDAQ:), CleanSpark (NASDAQ:), Cipher Mining (NASDAQ:) and Bit Digital (NASDAQ:), all climbed prior the opening bell in New York.
Bitcoin’s stellar performance this year has been spurred on in part by the recent U.S. approval of exchange-traded funds that directly track the price of the token.
The approvals have drawn a slew of institutional capital into Bitcoin. However, retail trading volumes have remained relatively muted, in an indication that faith in the crypto industry has potentially been dented by a string of high-profile scandals and bankruptcies.
An announcement from MicroStrategy Incorporated (NASDAQ:), the biggest corporate holder of Bitcoin, that it had recently purchased 3,000 tokens for about $155 million has also supported the cryptocurrency.
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