Crypto Stocks Surge as Bitcoin Crosses $47,000 Mark
Crypto Market Reaches New Highs
Bitcoin (BTC) surpassed the $47,000 milestone, marking its highest point in nearly a month. The surge in the leading cryptocurrency’s value has resulted in a positive impact on crypto-related stocks ahead of the stock market opening.
Bitcoin’s Rise and Current Standing
The leading cryptocurrency experienced a 4.5% increase in the past 24 hours, with its current value hovering around $47,300 at the time of writing.
Performance of Cryptocurrency Stocks
Among the cryptocurrency stocks, CleanSpark (NASDAQ:) emerged as the top performer, witnessing a remarkable 22% surge in premarket trading. This surge was fueled by a strong FQ1 earnings report, following a 12.8% increase on Thursday. Additionally, other crypto mining companies such as Riot Platforms (NASDAQ:) and Marathon Digital (NASDAQ:) observed significant surges of approximately 9.2% and 10.7% respectively.
Performance of Other Crypto-Related Companies
Crypto exchange Coinbase (NASDAQ:) exhibited a more than 6% increase, while Michael Saylor’s MicroStrategy (MSTR) also saw a rise of 6.6% in its stock value.
