Janice R. Andrews
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Bitcoin (BTC-USD) climbed above $97,000 on Friday, regaining strength after a brief pause in its post-election rally and edging closer to the $100,000 mark.
Shares of MicroStrategy (MSTR), a prominent crypto-proxy stock, also ticked higher during intraday trading. The software and cloud firm recently invested $5.4 billion to purchase 55,000 more Bitcoin, reinforcing its standing as a major corporate Bitcoin investor.
With MicroStrategy’s stock performance closely linked to Bitcoin’s price, investors are closely monitoring how the cryptocurrency’s rebound will impact the company’s valuation.
As Bitcoin shows renewed momentum, market watchers anticipate further institutional moves and price action to shape the future of the crypto market.
