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29 September 2020

‘Other companies will follow’ — MSTR stock up 9% after buying Bitcoin

‘Other companies will follow’ — MSTR stock up 9% after buying Bitcoin


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‘Other companies will follow’ — MSTR stock up 9% after buying Bitcoin.

The Nasdaq-listed firm MicroStrategy (MSTR) is continuing to purchase hundreds of millions of dollars worth of Bitcoin (BTC), resulting in its company stock price to gain over 9% on Sep 16. .

Now, MSTR price has once again risen in a similar fashion after confirming yesterday that it doubled down on adopting a “Bitcoin standard,” buying over 38,000 BTC worth $425 million at an average price of $11,111. .

While the company has a large exposure to Bitcoin, Compound Finance’s general counsel Jake Chervinskey said such a loophole is non-existent

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cointelegraph.com
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