MicroStrategy's Bitcoin Holdings Drive Stock Surge

Shares of MicroStrategy Inc. experienced an impressive 8% surge on Thursday, fueled by Bitcoin's historic overnight climb above $100,000 for the first time. This significant milestone in the cryptocurrency market has had a ripple effect on related stocks, highlighting the growing influence of digital assets on traditional financial markets.

According to the company's latest filing, MicroStrategy currently holds approximately 402,110 Bitcoins. This substantial investment, including the recent acquisition of 15,400 Bitcoins for about $1.5 billion, underscores the company's confidence in Bitcoin's long-term potential. As of 9:30 am ET, MicroStrategy's stock price reached $441.9, marking an 8.65% increase.

The positive momentum in the cryptocurrency market also boosted other crypto-related stocks. Coinbase Global Inc. saw a 4.54% rise to $346.39 per share at 9:48 am ET, while Robinhood Markets Inc. gained 1.93% to trade at $40.31 per share at 9:33 am ET. These gains reflect the broader market sentiment towards cryptocurrencies and their increasing integration into mainstream finance.