Strategy Stock Soars on Bitcoin Rally and Regulatory Clarity Hopes

Strategy's stock price surged on Monday as the price of Bitcoin climbed above $86,000. The company added to its massive crypto holdings by purchasing 950 Bitcoin for $75.7 million between September 14 and September 20.

The purchase brought Strategy's total holdings to 846,000 Bitcoin, acquired at a cost of $63.8 billion or $75,416 per coin.

Bitcoin's rally is driving up the value of Strategy's holdings, which account for most of its business value.

Matt Hougan, Bitwise chief investment officer, believes that the crypto market is entering a 'crypto spring' and is expecting a strong and long-running bull market driven by rising digital transactions and institutional adoption.