Why MicroStrategy Shares Are Trading Higher
Portfolio Pulse from Henry Khederian
Shares of MicroStrategy Inc (NASDAQ:MSTR) are trading higher by 3.6% amid an increase in the price of Bitcoin. MicroStrategy holds a significant amount of Bitcoin on its balance sheet, and the increase in Bitcoin's price positively impacts the company's asset value and stock price. The market is currently anticipating the outcome of the upcoming Federal Reserve’s Federal Open Market Committee (FOMC) meeting on September 20.
September 18, 2023 | 1:55 pm
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MicroStrategy's stock price has increased due to the rise in Bitcoin's price. The company's decision to hold Bitcoin has positively impacted its asset value and stock price.
MicroStrategy holds a significant amount of Bitcoin, and the increase in Bitcoin's price has led to an increase in the company's asset value. This has positively impacted the company's stock price, leading to a rise in the stock price.
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