MicroStrategy (MSTR -4.83%) began acquiring Bitcoin (BTC -4.50%) four years ago, and since then, its stock provided its investors with a mind-boggling 2,700% return. The company currently holds 402,100 Bitcoins, presently valued at $39.1 billion, and the cryptocurrency surpassed $100,000 for the first time (although it dipped below that level at the time of this writing).
After bitcoin (BTC-USD) reached the $100,000 milestone for the first time, MicroStrategy (MSTR) executive chairman Michael Saylor joins Market Domination Hosts Julie Hyman and Josh Lipton to discuss the cryptocurrency's rise and explain why MicroStrategy has become a consistent bitcoin buyer. "Every day for the past four years, I've said buy bitcoin, don't sell the bitcoin.
Microstrategy's (MSTR) leverage presents downside tail-risk that exceeds even Bitcoin's legendary risk premium, according to OJ. The stock may lead crypto prices in near-term.
MicroStrategy Inc's MSTR leveraged ETFs have amplified the company's role as a de facto Bitcoin BTC/USD proxy.
As of Tuesday, MicroStrategy held 402,100 Bitcoin. That holding is now worth just more than $41 billion, or about half of the company's market capitalization.
MicroStrategy stock price has done well this year, helped by the ongoing Bitcoin price rally. MSTR has jumped by 542% this year, beating the S&P 500 and Nasdaq 100 indices, which are up by less than 30%.
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The company is using the money to buy more cryptocurrency.
Single stock ETFs are seeing high trading volumes, and some are showing signs of stress.
OJ says bonds are live this week with the dollar staying bid after JOLTS. Meanwhile, Bitcoin and Microstrategy (MSTR) are looking a tad wobbly.
Michael Saylor, MicroStrategy executive chairman, joins 'Squawk Box' to discuss the company's decision to purchase 15,400 bitcoin for about $96,000 per coin, state of the crypto industry, the appeal of bitcoin, and more.
MicroStrategy stock pulled back after a steep climb along with the rise in bitcoin. With its recent drop, is it time to buy, sell or hold?