PANews reported on July 5 that according to CoinDesk, U.S. cryptocurrency-related stocks fell sharply in pre-market trading due to the decline in Bitcoin prices. Bitcoin traded at around $54,400 in Europe, down 5.8% in 24 hours, after falling to $53,600, its lowest point since late February. The decline was related to the bankrupt cryptocurrency exchange Mt. Gox transferring $2.6 billion worth of Bitcoin to a new wallet and starting to repay creditors. Michael Saylor's MicroStrategy (holding more than 210,000 Bitcoins) and Bitcoin mining company Hut 8 led the decline, falling 8.5% and 9.5% respectively. Other mining companies such as Marathon Digital, CleanSpark and Riot Platforms fell between 6% and 7.5%. Cryptocurrency exchange Coinbase also fell 6.5%.
