The share prices of Bitcoin-focused MicroStrategy and crypto exchange Coinbase have surged during the pre-market trading session following a Bitcoin price rise above $45,000 and the Bitcoin ETF decision deadline of Jan 10.
Shares of Coinbase and MicroStrategy saw gains of 6% and 9%, respectively, during the pre-market trading session on Jan. 2. Coinbase stock rose 6.4% to $184.99 while MicroStrategy shares rose by 9.14% to $689.11.
The pre-market trading session typically occurs in the hours leading up to the 9:30 a.m. ET market open in New York each trading day. It allows investors to buy and sell stocks ahead of the open market.
Coinbase's share price has increased by 36% over the past month and nearly 420% on the year after a forgetful 2022. However, the share price of America’s first publicly listed crypto exchange is still around 46% below its all-time high of $343, set after its launch in 2021.
Likewise, MicroStrategy shares have surged by 25% over the past month and 372% over the past year, and they are currently 8% down from their 2021 high of $750.
Related: Bitcoin halving 2024 - miners predict potential outcomes of reduced BTC rewards
Other crypto-centered public companies, such as PayPal or Block Inc., remained in the red during the pre-market trading session despite a bullish momentum in the Bitcoin market. However, that could change as markets open in the United States.
The recent change in the share price of crypto-centered companies contrasts the year-end route of most crypto-focused companies, with many seeing their share prices tumble amid wider market corrections.
The latest price surge of two major Bitcoin-centered companies is being attributed to the spot Bitcoin ETF approval buzz.
MicroStrategy remains the biggest hodler of Bitcoin, while Coinbase has been chosen as a custodian by several institutional giants filing to launch their spot BTC ETFs.
Magazine: Lawmakers’ fear and doubt drives proposed crypto regulations in US
