MSTR stock was up 12% on Wednesday. President Donald Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders. That’s a positive for Bitcoin, despite the cryptocurrency being still well off its all-time high of just over $109,000 on President Donald Trump’s inauguration in January.

It’s also a positive for Strategy, recently known as MicroStrategy, because it is the largest corporate holder of Bitcoin in the world and, as such, its stock price has run in parallel with the currency in recent months. Its price has suffered as a result, given the volatility inherent in cryptocurrency trading. In the last three months, its stock is down 28.79%.

Its decision this week to pay a quarterly cash dividend of $1.24 per share, payable on March 31, 2025, will have helped improve sentiment. Trump’s declaration that he plans a crypto reserve also put some bounce into the market, but the imposition of tariffs somewhat soured the mood.

Strategy also announced that it did not sell shares or buy Bitcoin between the period of February 24 and March 2 this year. As of that latter date, the company held approximately 499,096 bitcoins. These were acquired at a total cost of about $33.1 billion.