MicroStrategy stock price has done well this year, helped by the ongoing Bitcoin price rally. MSTR has jumped by 542% this year, beating the S&P 500 and Nasdaq 100 indices, which are up by less than 30%.
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The company is using the money to buy more cryptocurrency.
Single stock ETFs are seeing high trading volumes, and some are showing signs of stress.
OJ says bonds are live this week with the dollar staying bid after JOLTS. Meanwhile, Bitcoin and Microstrategy (MSTR) are looking a tad wobbly.
Michael Saylor, MicroStrategy executive chairman, joins 'Squawk Box' to discuss the company's decision to purchase 15,400 bitcoin for about $96,000 per coin, state of the crypto industry, the appeal of bitcoin, and more.
MicroStrategy stock pulled back after a steep climb along with the rise in bitcoin. With its recent drop, is it time to buy, sell or hold?
Michael Saylor's company MicroStrategy (MSTR -1.85%) has arguably been the best-performing stock in the market this year, even outperforming many of the artificial intelligence darlings that have fueled the bull market. MicroStrategy is up roughly 518% this year.
Shares of MicroStrategy (MSTR -1.85%), the cloud software stock that has converted itself into a Bitcoin (BTC 0.57%) treasury stock, were surging last month, benefiting from all-time high Bitcoin prices and the belief that the Trump administration will adopt crypto-friendly policies.
The software company has spent nearly $7 billion buying bitcoin in the past two weeks as prices have pulled back.
It was another strong session for MicroStrategy (MSTR), as the biggest corporate holder of bitcoin is being seen by investors as one of the best cryptocurrency stock plays.
MicroStrategy Inc (NASDAQ:MSTR) stock is up 6,5% to trade at $414.02 at last glance, as Bitcoin (BTC) continues to flirt with the $100,000 level.