{"id":225906,"date":"2021-04-13T20:15:00","date_gmt":"2021-04-13T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/microstrategy-stock-explodes-alongside-bitcoin-rally\/"},"modified":"2021-04-13T20:15:00","modified_gmt":"2021-04-13T17:15:00","slug":"microstrategy-stock-explodes-alongside-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/microstrategy-stock-explodes-alongside-bitcoin-rally\/","title":{"rendered":"# MicroStrategy stock explodes alongside Bitcoin rally"},"content":{"rendered":"<p>&#8220;<strong># MicroStrategy stock explodes alongside Bitcoin rally  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Shares of MicroStrategy (MSTR) surged to one-month highs on Tuesday, as Bitcoin\u2019s (BTC) gravitational pull on crypto proxy stocks continued to strengthen following another record-breaking rally for the digital asset.\u00a0<\/p>\n<p>Shares of the business intelligence firm touched an intraday high of $770 on the New York Stock Exchange, representing a gain of 10% \u2013 the highest level since March 11. At current values, MicroStrategy has a total market capitalization of $7.5 billion. <\/p>\n<p>Even with the latest run-up in price, MSTR remains well below all-time highs breached in early February. The stock peaked at $1,315.00 on February 8 before pulling back to sub-$1,000 levels. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/19a69d05-5945-426b-b5cc-4a7eaf865304.png\"><figcaption style=\"text-align: center;\"><em>MicroStrategy&#8217;s stock has rallied sharply on Tuesday. Chart via TradingView<\/em><\/figcaption><\/figure>\n<p>MSTR\u2019s rally came just as Bitcoin surged above $63,000 for the first time, setting a new all-time high in the process. Although MicroStrategy\u2019s underlying business has nothing to do with Bitcoin or cryptocurrency, the company has become a corporate flagbearer of BTC after CEO Michael Saylor decided to convert a large portion of the company\u2019s balance sheet into the digital asset. <\/p>\n<p>The company now holds 91,579 BTC, worth roughly $5.8 billion at today\u2019s prices. <\/p>\n<p>On Monday, a filing with the United States Securities and Exchange Commission, or SEC, revealed that MicroStrategy\u2019s board of directors will receive bonus payments in BTC instead of cash. The modified 8-K form <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.microstrategy.com\/content\/dam\/website-assets\/collateral\/financial-documents\/financial-document-archive\/Form-8-K_04-11-2021.pdf\">states<\/a>:<\/p>\n<blockquote><p>\u201cGoing forward, non-employee directors will receive all fees for their service on the Company\u2019s Board in bitcoin instead of cash.\u201d<\/p><\/blockquote>\n<p>MSTR wasn\u2019t the only crypto proxy stock to rise on Tuesday. Riot Blockchain (RIOT) rose 10% and Marathon Digital Holdings (MARA) rallied 6%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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