Bitcoin Barely Moved — So Why Did MSTR Surge 16%?
Bitcoin barely moved Friday, +0.24% to $81,428. Strategy, whose business is holding Bitcoin, rose 16.39% to $153.92, closing within a dime of its high. The coin was flat, so all of that is premium: the market paid 16% more for the same Bitcoin. The stated reason is regulatory - a House committee advanced crypto legislation and cleared tokenized equities, and Michael Saylor called the CLARITY Act's defeat a positive inflection point. Note what that asks you to believe. The bill that sank Circle on Tuesday is now a reason to pay up. The stock is up 53% in a month. What is the premium pricing?