MSTR Surges 8.5% as Bitcoin Breaks $71,000 and Trump Talks Crypto

Shares of MicroStrategy (MSTR) surged 8.5% in morning trading after Bitcoin climbed back above $71,000.

The price jump was linked to a White House crypto event where President Donald Trump pressed Congress to pass the stalled CLARITY Act.

Trump also stated that the U.S. government is considering buying Bitcoin on a 'sizable' scale, according to CNBC.

The Treasury Department announced it would double the maximum size of planned buybacks of long-dated government debt, which tends to push down long-term yields and make holding non-yielding assets like Bitcoin less painful.