MicroStrategy Went Up 20x in 5 Years-Why This Bitcoin Proxy Still Has FOMO, and Where the Paper Hands Get Wrecked

MicroStrategy now trades like a leveraged Bitcoin vehicle

MSTR rose 24.0% after a 17% crash, a swing that reinforces how little this stock resembles a traditional software name. According to TIKR, investors are treating it as a leveraged Bitcoin ETF, with the stock moving 2-3x faster than the underlying asset as Bitcoin moved from below $67,000 to above $70,000 in hours. That kind of tape can flip from FUD to FOMO very quickly.