Strategy Stock Skyrockets 16% as Crypto Market Soars

Strategy (NASDAQ: MSTR) stock price surged by 16% on September 18, closing at $153. This uptrend mirrors the broader crypto market's gains, where Bitcoin (BTC) reached $81,000 before consolidating at $80,000 and Ethereum (ETH) hit its highest price in eight months above $2,600.

Other crypto stocks like Coinbase (COIN) and Circle (CRCL) also gained 11% and 7%, respectively. Strategy emerged as the 16th most-traded US stock on September 18, with a dollar volume of $8.36 billion, surpassing big-cap companies like Netflix and Visa.

MSTR's 30-day average trading volumes sit at 5.4% of the market cap, higher than Tesla's 0.9%, Meta's 0.6%, and Nvidia's 0.5%. Strategy also reported that its unrealized profits on Bitcoin (BTC) hit $4.73 billion, despite pausing fresh buys for two weeks to focus on buying back STRC preferred stock.