Shares of MicroStrategy (MSTR) surged over 6% on Wednesday as Bitcoin neared the $100,000 mark. The stock, widely viewed as a leveraged proxy for the cryptocurrency, saw significant investor demand during the rally. MSTR is now rebounding strongly following a recent volatile period.
The positive momentum also stems from several company-specific factors. Investors reacted positively after MSCI decided to maintain MicroStrategy’s inclusion in its indexes, removing a significant concern.
Sentiment was further bolstered by recent corporate disclosures. MicroStrategy announced an additional purchase of 13,627 BTC. Separately, a director executed a notable insider stock purchase, marking the first such transaction in over three years.