MicroStrategy shares soar 14% as Saylor increases Bitcoin purchases

Software company MicroStrategy’s stock price is booming due to rapid growth in publicly traded companies Bitcoin rapidly.

MicroStrategy, which trades on the Nasdaq under the ticker MSTR, was trading at $1,610 per share on Monday.. This represents an increase of nearly 14% compared to the previous 24 hours. He has since settled at $1,484 as of this writing (albeit with a modest one-day gain of 4%), but the stock is still up 106% for the month.

What’s even more impressive is that since the company launched its Bitcoin strategy in 2020 by putting the largest cryptocurrency on its balance sheet, its price has soared more than 912%. Its previous high was in 2000, when it traded at $3,130.

The sudden rise happened as a company. announced Today, the company has bought even more Bitcoin and now holds more Bitcoin than any other publicly traded company. At current prices, the company’s “digital gold” holdings are worth more than $14.8 billion.

With over 200,000 BTC holdings, this acquisition leapfrogs BlackRock’s Spot Bitcoin ETF, which holds 195,985 Bitcoins.

Bitcoin strike Another record high today: of bitcoin price Right now, right? CoinGecko $72,201 per coin, per data.

Today with Michael Saylor, Co-Founder and Chairman of MicroStrategy Said CNBC Bitcoin’s market cap would eventually “eat money,” he said, and buying the company’s stock was a good way to gain exposure to the asset. He added that the company is now a “Bitcoin development company.”

“Bitcoin is a better investment than gold, stocks, bonds or real estate because it is digital,” he said today. “Most other assets are traded less than 20% of the time.Bitcoin’s trading time is 168 hours per week.”

Companies that perform data analysis are Bought it for the first time Saylor said the idea was that shareholders would get better returns if the company held digital coins instead of cash.

Since then, the company has continued to purchase assets in bulk.Other companies – the most famous electric car giants tesla— and have followed suit ever since.

Edited by Ryan Ozawa.