March 17, 2023 12:28 | 1 minute read
MicroStrategie Inc (NASDAQ:MSTR) shares are trading up about 7.54% at $259.26 in Friday’s session. Shares of crypto-related stocks are trading higher amid recent and marked strength in cryptocurrencies.
- Bitcoin (CRYPTO:BTC) is trading up 36.14% to hit the $26,000 level in the previous week
- Ethereum (CRYPTO:ETH) is 25.95% higher at the $1,700 level over the past week
For the uninitiated, MSTR is an enterprise mobility and analytics software provider.
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As part of the company’s broader financial strategy, MicroStrategy has held approximately 132,500 bitcoins since FY22. For this reason, the stock often moves in sympathy with the price of Bitcoin and the crypto industry.
See also: Why shares of PacWest Bancorp (PACW) and Western Alliance (WAL) are plunging
According to data from Benzinga Pro, MicroStrategy has a 52-week high of $522.80 and a 52-week low of $132.56.
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