An illustration of bitcoin on Euro banknotes.
Nicolas Economou | NurPhoto via Getty Images
MicroStrategy’s share has risen more than 700% since August, when the Virginia enterprise software industry became an early contractor for buying bitcoin for its corporate treasury.
Michael Saylor, the chairman and CEO, is an outspoken evangelist for bitcoin and has encouraged other companies to follow MicroStrategy’s lead – including Tesla CEO Elon Musk in a Twitter conversation.
On Monday, a little more than a month since Saylor tweeted to Musk, Tesla revealed in a regulatory statement that it had bought $ 1.5 billion worth of bitcoin and plans to accept the digital currency as payment in the future. . The price of bitcoin – and MicroStrategy’s share – soared after the news.