MicroStrategy Surges 6.5% In Pre-Market Trading Amid Bitcoin’s Record Surge

Premarket trading for Bitcoin (BTC) drove MicroStrategy Inc. (MSTR) stock up over 6% on December 16 after Bitcoin hit a new all-time high in cryptocurrency values. Shares are also rising for a company set to join the Nasdaq-100 index, which includes the top 100 English shares and takes place on December 23.

MicroStrategy’s stock had traded above $430 at the time of writing, significantly higher than its levels earlier this year when it peaked at more than $543.

The pre-market gain is still well below that high, but that’s strong investor confidence, and many are confident that the company will grow once it’s in the Nasdaq 100. In rare cases, when a new company is added to the index, MSTR can be purchased as funds, and institutional investors want to buy shares of the new index component.

Having hit over $56,400, the buzz is certainly around MicroStrategy, a business intelligence and software firm managed by CEO Michael Saylor. With the largest corporate Bitcoin reserve in the world, the company noted for its aggressive acquisition strategy, holds a great deal of corporate Bitcoin.

Since first buying a Bitcoin in 2020, MicroStrategy has amassed 423,650 BTC, which is about $42.3 billion in value, according to Bitcoin’s price of over $106,000. Taking a long-term bullish stand on the crypto, the company’s mean price per Bitcoin has increased to $60,324 to highlight its position