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An illustration of bitcoin on euro banknotes.
Nicolas Economou | NurPhoto via Getty Images
MicroStrategy shares have risen more than 700% since August, when the Virginia-based enterprise software company became one of the first to adopt bitcoin buying for its corporate treasury.
Michael Saylor, its chairman and CEO, is an outspoken bitcoin evangelist and has encouraged other companies to follow MicroStrategy’s lead – including Tesla CEO Elon Musk in a Twitter conversation.
On Monday, just over a month since Saylor tweeted to Musk, Tesla revealed in a regulatory filing that he had purchased $ 1.5 billion worth of bitcoin and planned to accept the digital coin as a cash payment. ‘to come up. The price of bitcoin – and MicroStrategy stock – has soared in the wake of the news.
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