Crypto stocks gain as bitcoin nears 5-month high
29/10/2024 12:06
** Cryptocurrency and blockchain-related stocks rise before the
bell as bitcoin hits highest since early Jun, extending recent
gains
** Bitcoin BTC= , world's biggest cryptocurrency, recently
up 2.6% at $71,451, while Ether ETH= up 4.6% at $2,630.97
** BTC, on track for 4th straight session of gains, has picked
up steam on rising expectations that Republican candidate Donald
Trump will secure a second four=year term as U.S. president
** Trump has positioned himself as pro-cryptocurrency
**
Crypto exchange Coinbase Global COIN.O up 3.5%, and
U.S.-listed shares of blockchain farm operator Bitfarms BITF.O
up 6.5% premarket
** Shares of notable BTC hoarder MicroStrategy MSTR.O
rising >5% before the bell
** Crypto miners advance : Riot Platforms RIOT.O
%, Mara Holdings MARA.O (formerly Marathon Digital) 3.2%,
Hut 8 HUT.O 4%, Bit Digital BTBT.O 3.5%
** ProShares Bitcoin Strategy ETF BITO.P and iShares
Bitcoin Trust ETF IBIT.O up 2.9% and 2.5%, respectively
premarket
** BTC up 68% YTD with move on Tues
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))