Shares in Michael Saylor’s Strategy (MSTR) are trading higher on Tuesday, thanks in part to Bitcoin’s recent rebound in price. BTC has reclaimed the $113,000 price level after falling to as low as $108,000 last week. MSTR and BTC often move in tandem, so the rebound has also sent Strategy’s shares higher.

MSTR has ridden a losing streak in the past month, down 18% in that period. MicroStrategy (MSTR) has risen from around $123 in August 2020 to roughly $301 today, peaking above $473 during Bitcoin’s 2024 rally. Thanks to Saylor and Strategy’s commitment to the leading digital asset, BTC is as popular as ever, and investors who are already interested in BTC have also dipped into MSTR as a US stock investment.

Furthermore, earlier this month, the company also rose by over $8B in market capitalization, sending its stock higher. The US Treasury and IRS waived the company of a multi-billion dollar tax bill on its BTC holdings, which saved the company billions in potential tax liabilities. The news sent MSTR higher in value, although the stock soon corrected.

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MSTR on Wall Street

Wall Street’s support behind Strategy MSTR remains strong, with a Buy rating and a price target of $705 amid concerns over market volatility in digital asset treasury companies. Furthermore, analysts suggest MSTR stock may be 57% undervalued despite recent volatility. Strategy is now up 5% since the beginning of the year, but is still trading nearly 25% below its 52-week high of $473.83 from November 2024.

Outside of Strategy (MSTR), other crypto-related stocks are higher this week. Trading platforms Robinhood (HOOD) and Coinbase (COIN) jumped nearly 4.5% and 2.5% respectively, yesterday. Stablecoin issuer Circle (CRCL) also gained 3.5%. Crypto mining companies, which also focus their powerful infrastructure networks on AI and high-performance computing (HPC), soared on Monday and Tuesday.