Crypto
Bitcoin Rally Lifts MicroStrategy Stock Out of Two-Month Slump
MicroStrategy's stock price has recovered significantly in recent days, rising by 6.9% to $111.14 on Thursday afternoon, its best price since June 18.
This recovery erases a two-month slide, with the company's shares having bottomed at $81.81 in late June and failing to close above $101.95 for July.
The rebound is attributed to Bitcoin topping $70,000 for the first time in 78 days, marking a significant milestone in its price movement.
Two decisions by Washington also contributed to the rally: the Treasury doubling the size of its long-end bond buybacks and the SEC proposing Regulation Crypto Assets, which would allow crypto firms to raise up to $75 million per year without full registration.