MicroStrategy (MSTR), the business intelligence firm and largest corporate holder of Bitcoin, saw its stock surge 8% in pre-market trading on Thursday, December 5. The rally comes as Bitcoin nears the historic $100,000 mark, fueled by optimism surrounding the incoming Trump administration's crypto-friendly policies.
MicroStrategy's fortunes are closely tied to the price of Bitcoin, with the company holding over 402,100 Bitcoins worth around $40 billion based on current prices. The company's stock has soared over 500% this year, mirroring Bitcoin's remarkable rally.
The recent surge in Bitcoin and MicroStrategy's stock is being driven by expectations that President-elect Donald Trump will usher in a new era of regulatory clarity and support for the cryptocurrency industry. Trump has promised to make the U.S. the "crypto capital of the planet" and has pledged to establish a council to advise on industry-related policies.