Multinational investment firm Capital International recently purchased 953,242 shares of MicroStrategy. According to a filing with the US Securities and Exchange Commission (SEC), the said amount is about 12% of the total available shares.
Read CRYPTONEWSLAND onAfter word got out, MicroStrategy’s stock saw a rise. At the time of writing, each $MSTR price is worth $628.66, according to Nasdaq. Earlier during the day, the price went up to $635.50.
Relatively, many people in the cryptocurrency space may not be impressed by the price increase, as we are used to higher price swings. However, that is because traditional stocks are not as volatile as crypto, and there is more money involved.
Meanwhile, the price of Bitcoin has seen a slightly positive move.
BTC/USDT 1-hr chart (source: TradingView)
As seen on the chart above, Bitcoin price is seeing some green candlesticks. In fact, the current trading is above the 30-day Exponential Moving Average (EMA). This is a welcome sight for many crypto enthusiasts.
Others are also saying that this may be due to the network’s hash rate coming back into bloom. Regardless of the source of the surge, many in the crypto space are sure to be bullish again.
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