MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher on Wednesday after Bitcoin (CRYPTO: BTC) surpassed $68,000, reaching its highest levels since July.
The Details: MicroStrategy is often viewed as a proxy for Bitcoin as the company holds reserves totaling 252,220 Bitcoin as of Sept. 19. The company’s significant exposure to Bitcoin causes MicroStrategy’s stock to be easily influenced by changes in Bitcoin prices.
Bitcoin ETFs saw a significant surge in inflows to start the week. Single-day net inflows of $555.8 million on Monday marked the highest activity since July. Bitcoin prices also reflect their highest levels since July as of Wednesday.
MicroStrategy announced Wednesday that it will release 2024 third-quarter earnings on Oct. 30 after the market closes. The company will hold a …
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