Why MicroStrategy and Other Bitcoin Stocks Soared Today
What happened
The stock market closed at 2 p.m. EST on Dec. 24 and didn’t reopen until 9:30 a.m. Dec. 28. During that time, the balance sheet for technology company MicroStrategy (NASDAQ:MSTR) increased in value by almost $300 million, thanks to bitcoin’s meteoric rise over the Christmas weekend.