With Bitcoin Rallying, Strategy (MSTR) Just Flipped From a $13 Billion Loss to a $1.4 Billion Gain.
Should Investors Buy the Rally?
Shares of Strategy Inc (NASDAQ:MSTR), formerly MicroStrategy, surged this week as the price of Bitcoin (CRYPTO:BTC) continued to balloon. Bitcoin’s price has surged by more than 20% in recent trading sessions, moving from a multi-month low of around $63,000 to above $77,000. Strategy generated $477 million in revenue last year, mainly by selling enterprise software.
But the biggest swings in the company’s stock price are often related to its 840,447 Bitcoin treasury. That’s roughly 4% of Bitcoin’s outstanding supply, with a current valuation of roughly $65 billion. Strategy began purchasing Bitcoin in 2020 at around $11,000.