Shares in Michael Saylor’s Strategy (MSTR) are trading higher on Thursday after the company’s market cap gained over $8 billion. Strategy has rallied 8% since the new guidance from the US Treasury and IRS waived the company of a multi-billion dollar tax bill, including 4% on Thursday.

Strategy was previously facing a potential liability from the corporate alternative minimum tax, the 15% levy on large companies. However, the administration’s new rules exempted Strategy by saying that unrealized capital gains in digital assets wouldn’t count toward the tax. The news put a spotlight on MSTR, making it one of the top stock performers in the last 48 hours. YTD, MSTR is up 17%, while in the last calendar year, shares are up over 109%.

Strategy has more than $74 billion in bitcoin and more than $27 billion in unrealized gains. In a press release on Wednesday, Saylor’s company said it no longer expects to pay the tax. “Pursuant to the Interim Guidance, the Company plans to exclude its unrealized gains and losses from the calculation of its AFSI for purposes of determining whether it is subject to CAMT,” Strategy’s latest security filing reads. “As a result, the Company no longer expects to become subject to CAMT due to unrealized gains on its bitcoin holdings.”

While its recent rally might be partially attributable to the tax relief, Strategy (MSTR) is also up amid Bitcoin’s ongoing rally. Since September 30, BTC has rallied 4.6% and is now back above $120,500. As a leveraged play on BTC, MSTR often outperforms BTC on certain timeframes, and this time around is no different. As Bitcoin continues its rally, Strategy stock will continue climbing, especially if the company executes another big BTC purchase.