Bitcoin (BTC) surged past $59,000 for a fifth consecutive day of gains on Wednesday, boosting U.S. stocks tied to the cryptocurrency industry in pre-market trading.
The largest cryptocurrency by market value, which was approximately 14% below its record high of roughly $69,000, saw a 4.8% gain over the course of a day, bringing it to its highest level since November 2021. The CD20 added 3.5%, while the overall cryptocurrency market increased as well.
Tuesday saw Coinbase (COIN), the only cryptocurrency exchange traded in the United States, rise 3.9% to $209.94, its 52-week high. The largest corporate bitcoin holder, MicroStrategy (MSTR), saw a 7.5% increase.
The software company reported on Monday that it has added 3,000 more Bitcoin to its 193,000 overall holdings. Of the spot bitcoin exchange-traded funds that were approved last month, BlackRock’s Bitcoin Exchange-Traded Fund (IBIT) gained the highest, adding about 3.9%.
Mawson Infrastructure (MIGI) and Marathon Digital (MARA), both of which gained6.1%, led the gains among miners. HUT 8 (HUT), which said yesterday that it will begin selling its bitcoin holdings in order to fund business expansion, increased by 3%.