The stock price of the strategy company formerly known as MicroStrategy (stock code MSTR) opened significantly higher on March 3, as investors reacted to the weekend's surge in Bitcoin, which was driven by U.S. President Donald Trump's cryptocurrency reserve plan.
According to Yahoo Finance, MSTR's stock price rose by as much as 15%, reaching $295.10 per share. Prior to March 3, MSTR's stock had been in a two-week downward trend, with a cumulative decline of over 24%.
Despite the surge, MSTR's stock price is still down 51% compared to its peak in 2024. Source: Yahoo Finance
Since the strategy company began accumulating Bitcoin (BTC) in 2020, its stock has largely been traded as a proxy for Bitcoin. Since then, the company has accumulated as many as 499,096 Bitcoins, making it the company with the largest Bitcoin holdings in the world.
The company stated that despite aggressively buying Bitcoin in recent months, it did not make any purchases when Bitcoin prices fell last week.
The bold investment strategy in Bitcoin has made the strategy company one of the best-performing companies on Wall Street. Over the past year, MSTR's stock price has risen by 156%, and since the company first purchased Bitcoin in August 2020, its stock price has increased by over 1800%.
Bernstein analyst Gautam Chhugani stated, "In our view, a major beneficiary of the Bitcoin reserve (with Bitcoin remaining a key component of the reserve) is the strategy company (MSTR)."
Related: Strategy's Michael Saylor hints at a resurgence in Bitcoin purchases
The rise in MSTR's stock price closely follows a significant reversal in the cryptocurrency market, during which Bitcoin's price rebounded from a low of about $79,000 to surpass $95,000 over the weekend.
President Trump announced on social media the upcoming launch of the "U.S. Cryptocurrency Reserve Plan," which is the main driving force behind this market reversal.
On March 2, Trump stated that the U.S. cryptocurrency reserve plan would "revitalize this crucial industry after years of malicious suppression by the Biden administration." He mentioned that the reserve plan would cover Ripple (XRP), Solana (SOL), Cardano (ADA), Bitcoin, and Ethereum (ETH).
Source: David Sacks
The Trump administration will hold the first White House cryptocurrency summit on March 7 to discuss cryptocurrency regulation, stablecoins, and the potential role of Bitcoin in the financial system.
Meanwhile, the newly established cryptocurrency task force by the U.S. Securities and Exchange Commission (SEC) has met with several companies to discuss regulatory issues and common pain points within the industry.
Related: Traders profited $6.8 million by betting on BTC and ETH before Trump's cryptocurrency reserve announcement.
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