Strategy (MSTR) Stock Surges as Bitcoin Booms, Buys Resume
Shares in Strategy (MSTR) stock are climbing to start the week as the firm is resuming its purchasing of the Bitcoin cryptocurrency . BTC has hit a further ATH of $120,000 as institutional demand rises and the asset gets more attention on the federal stage. The US House of Representatives will review several key pieces of legislation involving crypto this week. This attention to crypto laws has shed a bullish light on Bitcoin, sending its price and BTC-related stocks higher. The rally in bitcoin has been accompanied by a surge in stocks with crypto ties, notably Coinbase (COIN), Robinhood (HOOD), and newly public stablecoin issuer Circle (CRCL). Coinbase and Robinhood shares are trading at record highs. Strategy, being the largest institutional investor in BTC, is up 10% since BTC breached its ATH last week. In addition, Strategy has unveiled a new purchase of over $472 million worth of Bitcoin (BTC). The company revealed today that it acquired 4,225 BTC between July 7 and July 13 at a...