Bitcoin miners, MicroStrategy stock rally as BTC price hits $50.3K

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BTC mining stocks and MicroStrategy notch double-digit gains as Bitcoin price hits a 2-year high.

Bitcoin’s (BTC) rebound to a two-year high at $50,363 on Feb. 12 has positively affected crypto and mining stocks. MicroStrategy (MSTR) and crypto-mining stocks recorded double-digit gains over the last week, somewhat mirroring BTC’s 17.5% gains over the same period. 

MSTR shares rose by 11% over the last 24 hours to $719 and have gained 33% over the last seven days.

The software company and its founder and chairman, Michael Saylor, are renowned for their support of Bitcoin as a digital gold and store of value and the company’s massive BTC holdings. The company now holds 190,000 BTC worth worth $8.1 billion in its treasury as a hedge against inflation.

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