MicroStrategy is trading up 4.59% at $142.27 on October 20, with Bitcoin strength a possible support.
- Bitcoin is up 1.29% since the prior close, a smaller gain than MicroStrategy’s.
- On October 19, the company disclosed a 267-Bitcoin purchase and an increase to the preferred-stock repurchase authorization.
- Available evidence does not establish Bitcoin’s gain as the sole cause. There is no clear evidence that the prior-day announcement directly explains the October 20 rise.