Shares in bitcoin-holder MSTR have more than quadrupled this year, reaching a 25-month high of $673 on Wednesday to become one of the best-performing crypto-related stocks of 2023. The Nasdaq-listed firm holds 189,150 BTC as of writing, having begun accumulating the cryptocurrency as a reserve asset three years ago. Bitcoin, the leading cryptocurrency by market value, has gained 160% this year, with prices surging 60% this quarter alone, mainly on the back of the spot ETF narrative.

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Author: Omkar Godbole

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