US State Introduces Bill to Establish Bitcoin Reserves in Treasury Funds
Pre-Market Trading in U.S. Crypto Stocks Explodes, With MicroStrategy Topping $300
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James Van Straten
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Crypto equities in the U.S. are up more than 10% across the board as bitcoin climbs above $82,000 to a new record.
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Semler Scientific is leading the pack, with a 25% gain in pre-market trading.
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MicroStrategy shares climbed above $300.
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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.
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.
