Pre-Market Trading in U.S. Crypto Stocks Explodes, With MicroStrategy Topping $300
2024-11-11

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy MMSTR, 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.
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.