What's Going On With Bitcoin Whale MicroStrategy Stock?

MicroStrategy Incorporated MSTR shares are up on heavy trading volume Monday. Bitcoin BTC/USD is trading higher as investors anticipate the potential approval of the first Bitcoin spot ETF in the U.S. 

What To Know:

Rumors and excitement are building among crypto investors after Cointelegraph released an inaccurate tweet stating that BlackRock's pending Bitcoin ETF application had been approved. 

Cointelegraph has since deleted the tweet and apologized for the error, stating, "We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded within 3 hours."

MicroStrategy is one of the largest bitcoin holders with approximately 158,245 bitcoins in its holdings. MicroStrategy's bitcoin holdings have an aggregate purchase price of approximately $4.68 billion and an average purchase price of approximately $29,582 per bitcoin.

According to data from Benzinga Pro, 24.87% of MSTR shares are being sold short and more than 775 thousand shares have been traded, surpassing its 100-day average of just over 588 thousand shares.

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MSTR Price Action: According to Benzinga Pro, MicroStrategy shares are up 2% at $324.50 at the time of publication.

Image: Matt Blythe from Pixabay