Crypto
MicroStrategy Soars $8 Billion on Bitcoin Price Rebound
MicroStrategy's market capitalization surged by nearly $8 billion in just two trading sessions as Bitcoin's price rebounded above $72,000.
The company's stock, MSTR, rose 12.68% on Wednesday to $104.25 after closing at $92.52 the previous day.
MicroStrategy holds approximately 840,447 BTC, making its stock a sensitive proxy for Bitcoin prices.
The cryptocurrency's price jump from around $64,300 to above $72,000 has significantly increased the value of MicroStrategy's treasury, adding roughly $6.5 billion to its market capitalization.