We’ll just keep buying the top forever; every day is a good day to buy bitcoin,” the founder and chairman of MicroStrategy recently told CNBC. “I would have bought Manhat

MicroStrategy stock is trading way above the value of its huge bitcoin stash. That is just the latest example of market valuations that break "the law of one price", writes Heard on the Street's Jonathan Weil.

MicroStrategy shares have gained more than 400% since the start of the year thanks to investor optimism about the software company's strategy of buying bitcoin as the cryptocurrency repeatedly hits record highs.

MicroStrategy Chairman and controlling shareholder Michael Saylor has grand ambitions and is one of the world’s biggest champions of Bitcoin. Now the company is asking shareholders for approval to boost the authorized amount of the company’s class A common shares outstanding to 10.

MicroStrategy’s stock falls after the sale of $561 million worth of shares was used to buy bitcoin at more than $106,000 each.

MicroStrategy’s fans hold a feverish allegiance to the bitcoin-buying software company that transcends the attention everyday investors pay to humdrum investments in their portfolios. Get the full sto

MicroStrategy (MSTR), the software developer that has made acquiring bitcoin (BTC) a core value, added to its holding for a seventh week in a row. The company bought 5,262 BTC for a total of $561 million in the week ended Dec. 22 to take its total holdings to 444,262 BTC it said.

"These types of things never go on forever and often end poorly," Steve Sosnick said of MicroStrategy's leveraged bitcoin bet.

MicroStrategy (NASDAQ:MSTR) acquired 5,262 bitcoin (BTC-USD) for a total of $561M for the week ended Dec. 22, the company disclosed on Monday, marking its seventh consecutive weekly bitcoin purchase.

MicroStrategy Inc., which is set to enter the Nasdaq 100 Index on Monday, announced it had purchased an additional $561 million of Bitcoin at an average price near last week’s record high.