Strategy Stock Soars 7% as Bitcoin Reaches Eight-Month High

Strategy Inc's stock rose by about 7% in premarket trading on Monday as Bitcoin reached an eight-month high of $85,166.

The surge was driven by a rally in cryptocurrency markets, with Bitcoin up more than 5% over the past 24 hours and having now risen in four out of the last five sessions.

Strategy Inc acquired 950 BTC for approximately $75.7 million at an average price of $79,670 per coin between September 14th and 20th, lifting its total holdings to 846,000 BTC with a total acquisition cost of around $63.8 billion.