MicroStrategy (MSTR) stock surged 3% to $1,828 on Monday as Bitcoin (BTC) retested $70,000. The company, the largest Bitcoin holder with 226,331 coins, has seen its stock outperform Bitcoin and major ETFs like IBIT and FBTC, rising 177% this year.
Other crypto-related stocks, including Riot Platforms and Coinbase, also experienced gains. MicroStrategy added more Bitcoin this month using part of the $700 million raised in June.
Upcoming MSTR earnings on August 1 are expected to show revenue growth to $121 million. However, its high market cap of $31 billion raises concerns about overvaluation.
A 10-1 stock split on August 8 aims to make shares more accessible to retail traders. Historically, stocks tend to rise before splits.
