MSTR Stock Increases Over 23% Intraday: Why It Happened

By Amit Chowdhry ● Jul 26, 2021
  • The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 23% during intraday trading. This is why it happened.

The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 23% during intraday trading. Investors are responding positively to the prices of cryptocurrencies increasing. MicroStrategy is an analytics and business intelligence company that holds an aggregate of about 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per bitcoin, inclusive of fees and expenses as of June 21.

As of 4:45 AM ET today, the prices of bitcoin, ethereum, and dogecoin all increased over 7% over the past 24 hours. Bitcoin hit a new six-week high price of $38,680 as of this morning. 

One of the reasons why the price of bitcoin is increasing is due to rumors that Amazon could begin accepting the cryptocurrency at the end of this year.

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