Bitcoin-Related Companies Show Pre-Market Gains as BTC Nears $46K

Shares of prominent bitcoin-adjacent companies rose in pre-market trading on Tuesday as the world’s largest cryptocurrency started 2024 by surpassing $45,000 for the first time in 21 months.

Bitcoin (BTC) has added more than 7% in the last 24 hours to about $45,600, the highest level since the start of April 2022. U.S.-traded companies such as crypto exchange Coinbase (COIN), software developer MicroStrategy (MSTR) – which owns a large number of bitcoin – and mining firms Marathon Digital (MARA) and Riot Blockchain (RIOT) rode the bullish momentum to show significant gains in pre-market trading.

Coinbase is up 6.34% at $184.95 at the time of writing, while MicroStrategy is up over 9% at $689.84. Marathon and Riot both added more than 10%.

Bitcoin’s latest surge indicates ever-increasing anticipation of a spot BTC exchange-traded fund (ETF) being listed in the U.S. A Reuters report on Dec. 30 suggested that the Securities and Exchange Commission (SEC) could notify ETF sponsors as early as Tuesday that their applications would be approved.