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Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Seeing Blue Skies

MicroStrategy Inc MSTR shares are trading higher by some 7.54% to $259.26 during Friday’s session. Shares of crypto-related stocks are trading higher amid recent, marked strength in cryptocurrencies.

  • Bitcoin BTC/USD is trading higher by 36.14% to the $26,000-level over the trailing week
  • Ethereum ETH/USD is higher by 25.95% to the $1,700-level over the past week

For the unitiated, MSTR is a provider of enterprise analytics and mobility software.

As part of the company’s broader financial strategy, MicroStrategy owns roughly 132,500 bitcoins as of FY22. Because of this, the stock often moves in sympathy with the price of Bitcoin and the crypto sector.

See Also: Why PacWest Bancorp (PACW) And Western Alliance (WAL) Stock Are Nosediving

According to data from Benzinga Pro, MicroStrategy has a 52-week high of $522.80 and a 52-week low of $132.56.

Posted In: Newswhy it’s moving

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