The stock of MicroStrategy (MSTR) has risen 27% in two days as the value of the software firm’s stake in Bitcoin (BTC) reaches $11 billion U.S.
The company said on Feb. 26 that that it had acquired an additional 3,000 Bitcoins for a total price of $155 million U.S. between Feb. 15 and Feb. 25.
MicroStrategy now owns a total of 193,000 Bitcoins worth $11 billion U.S. based on the current price of the largest cryptocurrency by market capitalization.
With Bitcoin’s price trading at $57,000 U.S., its highest level in two years, MicroStrategy’s stock rose 17% on Feb. 26 and another 10% on Feb. 27 to close at $871.80 U.S.
Founded in 1989, MicroStrategy has a focus on business intelligence software. However, its shareholder value is almost entirely tied to its Bitcoin stake.
The company…
