Why MicroStrategy Stock Is Surging Higher Today

MicroStrategy Inc MSTR is trading significantly higher Monday in sympathy with the price of Bitcoin BTC/USD. 

MicroStrategy is a provider of enterprise analytics and mobility software. The company's CEO, Michael Saylor, is a big proponent of Bitcoin. The company holds over 100,000 Bitcoin, worth more than $4 billion, on its balance sheet.

MicroStrategy is set to report its second-quarter financial results on July 29. 

Price Action: MicroStrategy has traded as high as $1,315 and as low as $115.87 over a 52-week period.

At last check Monday, the stock was up 27.20% at $686.63.