An illustration of bitcoin on Euro banknotes.
Nicolas Economou | NurPhoto via Getty Images
MicroStrategy‘s stock is up more than 700% since August, when the Virginia-based enterprise software company became an early adopter of buying bitcoin for its corporate treasury.
On Monday, a little more than a month since Saylor tweeted at Musk, Tesla revealed in a regulatory filing it had bought $1.5 billion worth of bitcoin and plans to accept the digital coin as payment in the future. The price of bitcoin — and MicroStrategy’s stock — soared following the news.