Why These 10 Stocks Were Skyrocketing on Friday

8. MicroStrategy Inc. (NASDAQ: MSTR)

Shares of MicroStrategy Inc (MSTR) ended Friday’s trading up by 8.04 percent to close at $396.5 apiece as investor sentiment was buoyed by a broader crypto market optimism under the incoming Trump administration.

MicroStrategy Inc (MSTR), a company heavyweight on Bitcoin, traded higher in line with its counterparts, amid earlier signals from President-elect Donald Trump that he would soon release an executive order making cryptocurrencies a national priority.

Additionally, reports said Trump was looking to create a crypto advisory council to give the industry a voice within his administration. A bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy.

In other news, MicroStrategy Inc (MSTR) recently added 2,530 Bitcoins for $243 million, bringing its total holdings to 450,000 Bitcoins.