An illustration of bitcoin on euro banknotes.
Nicolas Economou | NurPhoto by Getty Images
MicroStrategy shares have risen more than 700% since August, when the Virginia-based enterprise software company became an early adopter of buying bitcoin for its corporate treasury.
Michael Saylor, its president and CEO, is an open evangelist for bitcoin and has encouraged other companies to follow the example of MicroStrategy – including Tesla CEO Elon Musk in a Twitter conversation.
On Monday, just over a month after Saylor wrote on Twitter to Musk, Tesla revealed in a regulatory filing that it had bought $ 1.5 billion worth of bitcoin and plans to accept digital currency as a payment in the future. . The price of bitcoin – and the MicroStrategy stock – has risen following the news.