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MicroStrategy and Bitcoin Mining Stocks Has Nearly Tripled in the Last Three Months
Summary: The price of MicroStrategy and other listed companies with exposure to Bitcoin has nearly tripled in the last three months. Bitcoin (BTC) price soared to a 3 month high at $46,293 after bulls confirmed that they intend to take full control of the market, according to cointelegraph. MicroStrategy has amassed a Bitcoin portfolio in excess ...
The price of MicroStrategy and other listed companies with exposure to Bitcoin has nearly tripled in the last three months. Bitcoin (BTC) price soared to a 3 month high at $46,293 after bulls confirmed that they intend to take full control of the market, according to cointelegraph.
MicroStrategy has amassed a Bitcoin portfolio in excess of 105,000 BTC in its treasury as a way to hedge against inflation. As a result, MicroStrategy's stock price has become somewhat correlated with the price performance of BTC. The price of MSTR reached a low of $474 on July 20, the same day as the low in Bitcoin, and has since increased 65% to trade at $781. Listed companies that specialize in Bitcoin and cryptocurrency mining have also benefited from the price growth in BTC.
By Amy Liu
Tags: Bitcoin,MicroStrategy,Stocks
Link: MicroStrategy and Bitcoin Mining Stocks Has Nearly Tripled in the Last Three Months [Copy]
