The MSTR stock price is up today amid Strategy’s announcement of a new weekly Bitcoin buy, which it made between March 30 and April 5. The stock is also up today amid optimism about a potential ceasefire in the U.S.-Iran war, now in its sixth week.
Strategy Acquires 4,871 BTC, MSTR Stock Price Climbs
An SEC filing shows that the company acquired 4,871 BTC for $329.9 million, at an average price of $67,718 per Bitcoin. They now hold 766,970 BTC, which they acquired for $58.02 billion at an average price of $75,644 per Bitcoin.
This announcement comes just a day after Michael Saylor hinted at a new Bitcoin purchase by his company. He posted Strategy’s Bitcoin portfolio with the caption, “₿ack to Work,” signaling that they had resumed their weekly BTC purchases.
Strategy had paused its weekly BTC buys for a week, failing to acquire Bitcoin in the week ending March 29. Meanwhile, the MSTR stock price is up amid the announcement of this latest weekly purchase.
The Strategy stock is up over 4% today, according to TradingView data, rising from last week’s closing price of $120 to $125 in premarket trading. However, the crypto stock remains down over 22% year-to-date (YTD).
Source: TradingView; MSTR Daily ChartThe MSTR stock price has also rallied alongside other crypto stocks today amid optimism of a ceasefire in the U.S.-Iran war, despite reports that Iran has refused demands to reopen the Strait of Hormuz as part of the ceasefire negotiations. These crypto stocks are mirroring Bitcoin’s price action, with the flagship crypto climbing above the psychological $70,000 level in hopes that the U.S.-Iran war could end soon.
Source: https://coingape.com/news/stocks/mstr-stock-price-rallies-as-michael-saylors-strategy-adds-4871-btc/
