Why Bitcoin-Related Stock MicroStrategy Is Rising Today

MicroStrategy Inc MSTR shares are trading higher by 2.46% to $277.66 Monday morning amid a weekend increase in the price of Bitcoin BTC/USD. The apex cryptocurrency is trading roughly 4.5% higher since Friday's session.

Crypto-related stocks otherwise saw volatility last week and were trading lower after Binance temporarily paused Bitcoin withdrawals on its platform, citing network congestion.

See Also: Binance.US Shakeup: Is CFTC Lawsuit Pushing Out Founder Changpeng Zhao?

What Else Is Going On With Crypto?

Bitcoin showed signs of recovery as it climbed back up above $27,000 after experiencing a sharp decline last week. Despite the upward trend, the largest cryptocurrency by market capitalization is still down by over 10% since May 5.

The recent decline was due to profit-taking and low liquidity, coupled with industry-focused and macroeconomic uncertainties...Read More

According to data from Benzinga Pro, MSTR has a 52-week high of $361.97 and a 52-week low of $132.56.