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?
Michael Saylor's company MicroStrategy (MSTR -1.85%) has arguably been the best-performing stock in the market this year, even outperforming many of the artificial intelligence darlings that have fueled the bull market. MicroStrategy is up roughly 518% this year.
Shares of MicroStrategy (MSTR -1.85%), the cloud software stock that has converted itself into a Bitcoin (BTC 0.57%) treasury stock, were surging last month, benefiting from all-time high Bitcoin prices and the belief that the Trump administration will adopt crypto-friendly policies.
The software company has spent nearly $7 billion buying bitcoin in the past two weeks as prices have pulled back.
It was another strong session for MicroStrategy (MSTR), as the biggest corporate holder of bitcoin is being seen by investors as one of the best cryptocurrency stock plays.
MicroStrategy Inc (NASDAQ:MSTR) stock is up 6,5% to trade at $414.02 at last glance, as Bitcoin (BTC) continues to flirt with the $100,000 level.
The large-cap token climbed on Thanksgiving, raising the probability that crypto stocks will rise when markets reopen on Black Friday.
This has been a banner year for the stock market. All three major indexes -- the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite -- have catapulted to multiple record-closing highs, with excitement surrounding artificial intelligence (AI), stock-split euphoria, and optimism following the election of Donald Trump driving gains in 2024.
The software company has become a leveraged bitcoin play in the eyes of many investors.
Bitcoin (BTC-USD) returns to its rally mode as it seeks to make back this week's losses and climb nearer to $100,000. Crypto proxy stocks like MicroStrategy (MSTR) and Coinbase Global (COIN) are also on the rise.
Short seller Andrew Left of Citron Research revealed on Nov.