MicroStrategy Shares Jump Over 10% as Bitcoin Hits $78K, Holdings Return To Profit
MicroStrategy shares surged over 10% on April 17 after Bitcoin reclaimed above $78,000 following Iran’s Strait of Hormuz reopening, driving risk-on sentiment. The move lifted its 781,000 BTC holdings—acquired at an average cost of $75,577—to a $60.5 billion valuation, and shares peaked above $173, their highest since mid-January.
1. Stock Price Reaction
On April 17 MicroStrategy’s shares rose over 10%, touching a session high above $173, marking their strongest daily gain since mid-January and pushing the stock back above its 200-week moving average.
2. Geopolitical Catalyst
Bitcoin’s rally above $78,000 was triggered by Iran’s announcement that the Strait of Hormuz will remain fully open for the remainder of a 10-day ceasefire, easing oil supply concerns and fueling a broader risk-on rally.
3. Bitcoin Holdings Back In Profit
MicroStrategy holds approximately 781,000 BTC at an average purchase price of $75,577, and with Bitcoin trading near $77,200 the firm’s $60.5 billion crypto portfolio has flipped into positive territory for the first time in three months.