Cryptocurrency Stocks Rise Pre-Market Amid Bitcoin Surge

Nov 20, 2024

Cryptocurrency-related stocks saw an uptick in pre-market trading. Coinbase Global rose by 1.5%, Bitfarms increased by 1.3%, MicroStrategy gained 3.6%, and Canaan Technology surged by 4.4%. Bitcoin continues to climb, hovering near its all-time high.

According to CoinDesk, Teresa Goody Guillén, a senior figure at the U.S. Securities and Exchange Commission (SEC), is being considered by President-elect Trump as a potential leader for the SEC. Guillén is a partner at the law firm BakerHostetler and co-head of its blockchain practice.

Additionally, Nasdaq has listed options for the iShares Bitcoin Trust ETF under BlackRock. Over 350,000 contracts have been traded, with approximately 80% being bullish bets. Among the top 10 most traded options, nine are betting on a price increase.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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