MicroStrategy Stock Is Up 400% This Year—What You Need to Know About the Bitcoin Proxy

Key TakeawaysMicroStrategy shares have gained more than 400% since the start of the year thanks to investor optimism about the software company's strategy of buying bitcoin as the cryptocurrency repeatedly hits record highs.The stock, while considered a proxy for bitcoin, has far outpaced the gains of the digital currency. Like bitcoin, it's also extremely volatile.MicroStrategy uses leverage to buy more bitcoin. These purchases are funded by issuing more shares or debt.While analysts remain bullish on the ...