MicroStrategy (MSTR) Shares Climb Today on Bitcoin Strength and Dividend Declaration

Shares in Strategy (MSTR) continued climbing today driven by the strengthening in the price of Bitcoin and the declaration of a dividend.

Shares in Strategy (NASDAQ:MSTR) continued to climb on Tuesday evening following the announcement of a dividend and further strength in the price of Bitcoin.

MSTR stock was up 9.66% at the close of trading but was lower in pre-market trading on Wednesday morning as the price of Bitcoin moved back towards its key support threshold of $90,000.

Tariffs Hope Will Help

That was mainly due to the U.S. government appearing to give some indication that it was willing to—perhaps—soften its tariffs tirade on Canada and Mexico if some deals could be cut with those respective governments.

This was a positive for Bitcoin, despite the cryptocurrency remaining some way off its all-time high of just over $109,000 which was hit around the time of President Donald Trump’s inauguration in January.

It was also a positive for Strategy, recently known as MicroStrategy (NASDAQ:MSTR), because it is the largest corporate holder of Bitcoin and, as such, its stock price has run in parallel with the currency in recent months.

Its price has suffered as a result, given the volatility inherent in cryptocurrency trading. In the last three months, its stock is down 28.79%.

Its decision this week to pay a quarterly cash dividend of $1.24 per share, payable on March 31, 2025, will have helped improve sentiment. Trump’s declaration that he plans a crypto reserve also put some bounce into the market, but the imposition of tariffs somewhat soured the mood.

Strategy also announced that it did not sell shares or buy Bitcoin between the period of February 24 and March 2 this year. As of that latter date, the company held approximately 499,096 bitcoins. These were acquired at a total cost of about $33.1 billion.

On TipRanks, MSTR has a Strong Buy consensus based on 11 Buy ratings. Its highest price target is $650. MSTR stock’s consensus price target is $548.91 implying an 95.65% upside.