The shares of Strategy (MSTR), previously MicroStrategy opened at a sharply higher level on March 3, as investors were reacting to a Bitcoin rally over the weekend that was driven by US president Donald Trump’s crypto-reserve plans.
Yahoo Finance reported that MSTR was up as much as 15 percent to $295.10. MSTR’s stock had been in a downtrend for more than two weeks before March 3. It lost over 24%.
MSTR is down by 51% since its peak in 2024, despite the recent rally. Source: Yahoo Finance
Strategy has been accumulating Bitcoins (BTCIt has traded primarily as a Bitcoin-proxy stock since 2020. Since then, the company has amassed 499,096 BTC. This makes it the largest corporate Bitcoin owner in history.
It is a pity that it has not been able to aggressive buying spree Strategy has not bought the Bitcoin drop last week in the recent months. said.
The Bitcoin gamble by Strategy has helped the company become one of Wall Street’s best performers. MSTR’s stock has risen 156% in the last year, and it is now up more than 1,800% from when MSTR acquired its first Bitcoin.
“In our view, a big beneficiary of the Bitcoin reserve (Bitcoin will still be the lion’s share of the reserve) is MSTR,” said Bernstein analyst Gautam Chhugani.
Related: Saylor’s Strategy proposes $2B convertible note offering to buy more Bitcoin
Trump’s Market Rebound
MSTR’s rise came after a major crypto-market reversal which saw Bitcoin rebound from a low of around $79,000 The weekend’s high was above $95,000
The announcement on President Trump’s social media of an upcoming event “US Crypto Reserve” The main reason for this reversal was the change in the weather.
According to the President, on March 2, 2019, the US crypto reserves will increase. “elevate this critical industry after years of corrupt attacks by the Biden administration.” He claimed that he would be including XRP in his plan (XRP), Solana (SOL), Cardano (ADABitcoin and EtherETH).
Source: David Sacks
Trump will be hosting the first-ever Trump Administration. White House crypto summit On March 7, we will be discussing regulations, stablecoins, and the possible role of Bitcoin within the financial system.
Meanwhile, US Securities and Exchange Commission (SEC)’s new Crypto Task Force Has met with several companies in order to discuss industry regulations and pain points.
Magazine: Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky
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Source: cointelegraph.com
