MSTR Stock Price Increases Over 9%: Why It Happened

By Amit Chowdhry ● June 29, 2021
  • The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 8% during intraday trading. This is why it happened.

The stock price of MicroStrategy Incorporated (NASDAQ: MSTR) increased by over 8% during intraday trading. Investors are responding positively to the price of Bitcoin increasing over $35,000 again.

The price of Bitcoin is trending upwards due to Morgan Stanley buying over 28,000 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund. And there are reports that Cathie Wood’s ARK Invest is planning to launch a Bitcoin-themed ETF.

MicroStrategy is an enterprise analytics software and services company. As of June 21, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins — which were purchased at an aggregate purchase price of approximately $2.741 billion.

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