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July 26, 2021, 2:55 p.m. EDT

MicroStrategy's stock soars toward 3-month higher after bitcoin blasts off

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By Tomi Kilgore

Shares of MicroStrategy Inc. /zigman2/quotes/202561856/composite MSTR -2.79% shot up 26% toward a three-month high in afternoon trading Monday, as investors appeared to cheer the rally in bitcoin. The enterprise software company is viewed as a bitcoin play as the company has disclosed that it uses bitcoin as a primary treasury reserve asset. Meanwhile, bitcoin /zigman2/quotes/31322028/realtime BTCUSD +2.20% recently soared 15.4% to $39,793, in the wake of Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN +0.28% put out an help-wanted ad seeking a "digital currency and blockchain product lead." The company said last month that it owned about 105,085 bitcoin as of June 21, which it acquired for $2.74 billion at an average price of $26,080 per bitcoin. MicroStrategy's stock, which is on track to close at the highest level since April 16, has soared 76% year to date, while bitcoin has run up 37% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.15% has gained 17.6%.

/zigman2/quotes/202561856/composite
US : U.S.: Nasdaq
$ 599.39
-17.18 -2.79%
Volume: 468,339
Sept. 24, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.84 billion
Rev. per Employee
$240,729
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/zigman2/quotes/31322028/realtime
US : CoinDesk
43,660.68
+941.50 +2.20%
Volume: 0.00
Sept. 26, 2021 5:50a
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,425.52
+9.52 +0.28%
Volume: 2.12M
Sept. 24, 2021 4:00p
P/E Ratio
59.70
Dividend Yield
N/A
Market Cap
$1734.82 billion
Rev. per Employee
$297,430
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/zigman2/quotes/210599714/realtime
US : S&P US
4,455.48
+6.50 +0.15%
Volume: 1.69B
Sept. 24, 2021 5:05p
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