A big reason MicroStrategy (MSTR -4.40%) was such a hot stock in 2024 is its bullish position on Bitcoin. The company is such a big believer in crypto that it's planning to raise $42 billion in capital during the next three years for the purpose of adding to its tally.
After gains of 346% in 2023 and about 360% in 2024 for a total just under 2,000% for two years, it is worthwhile to consider the premium MicroStrategy's shares are selling for versus its bitcoin holdings.
MicroStrategy Inc MSTR is riding the Bitcoin BTC/USD rollercoaster like no other, but the thrill seems to have hit a steep drop.
The share price of American business intelligence firm MicroStrategy (NASDAQ: MSTR) is on a downward spiral as the company continues its aggressive Bitcoin (BTC) buying strategy.
Software company MicroStrategy (MSTR) bought up an additional $209 million worth of bitcoin (BTC-USD) — or 2,100 bitcoin — according to its latest filing with the Securities and Exchange Commission (SEC). Market Domination host Julie Hyman, Yahoo Finance markets reporter Josh Schafer, and Interactive Brokers chief strategist Steve Sosnick monitor MicroStrategy's stock moves as its bitcoin-buying activity appears to be slowing over the past several weeks.
Cryptocurrency play discloses its latest shares sales with proceeds going to buy more bitcoin.
MicroStrategy Incorporated (NASDAQ:MSTR) has continued its aggressive Bitcoin accumulation strategy, acquiring $209 million worth of the cryptocurrency between December 23 and December 29, a regulatory filing with the Securities and Exchange Commission on Monday has revealed. This marks the eighth consecutive week of Bitcoin purchases for the Tysons Corner-based software company, which has effectively transformed itself into a leveraged proxy for Bitcoin under the leadership of its co-founder Michael Saylor.
The company bought $209 million worth of the digital token between Dec. 23 and Sunday.
Software name MicroStrategy Inc (NASDAQ:MSTR) is plummeting in pre-market trading, last seen at $317.97 after the company revealed a sale of 592,987 shares valued at $209 million and a subsequent acquisition of 2,138 bitcoins, worth the same amount.
In this podcast, Motley Fool analyst Asit Sharma and host Ricky Mulvey discuss:
MicroStrategy (NASDAQ:MSTR) wants to kick its Bitcoin (CRYPTO:BTC) buying strategy into hyperdrive, but is doing so at the expense of existing shareholders.
Following the moves of billionaires across Wall Street can provide some valuable insight into the ideas of some of the smartest investors around. While any single trade rarely means too much, taken in aggregate, interesting trends can emerge.