Why Shares of MicroStrategy Were Rising Today
Shares of the business intelligence company MicroStrategy (NASDAQ: MSTR), which also buys and holds a lot of Bitcoin, were more than 10% higher as of 2:54 p.m. ET today after the company said it plans to continue to buy and hold Bitcoin.
At the end of the first quarter of this year, MicroStrategy held more than 129,218 Bitcoin tokens, which had a market value of $5.9 billion at the end of the quarter. The price of the cryptocurrency has fallen about 37% this year, and traded at about $30,150 as of this writing.
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Source Fool.com
