MSTR Stock Price: Why It Increased Over 5%

By Amit Chowdhry ● Oct 2, 2021
  • The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 5% in the previous trading session. This is why it happened.

The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 5% in the previous trading session. The stock price performance of MicroStrategy closely follows the price of Bitcoin since the company holds an excessive amount of the cryptocurrency.

As of June 30, 2021, the carrying value of MicroStrategy’s digital assets (comprised of about 105,085 bitcoins) was $2.051 billion — which reflects cumulative impairment losses of $689.6 million since the acquisition and an average carrying amount per bitcoin was approximately $19,518. And the non-GAAP digital asset cost basis and non-GAAP calculation of the market value of MicroStrategy’s bitcoin were $2.741 billion and $3.653 billion, respectively — which reflects an average cost per bitcoin of approximately $26,080 and a market price per bitcoin of $34,763.47.

Yesterday the price of bitcoin increased from about $43,629 per bitcoin as of 12 AM ET to about $48,391 as of 5 PM ET. And so the stock price of Microstrategy along with several other cryptocurrency-related companies increased yesterday.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.