MicroStrategy's share price skyrocketed over 100% in 2024, although its software business is seeing a year-over-year revenue decline. The firm is working to revitalize its business as it transitions to a software-as-a-service model.
MicroStrategy's all-in Bitcoin strategy assumes that Bitcoin will generate annualized returns of 30% or more during the next two decades. MicroStrategy is using debt to buy as much Bitcoin as possible, with the assumption that it will remain the top-performing crypto.
MicroStrategy Inc MSTR continues its audacious bet on Bitcoin BTC/USD, recently purchasing $1.11 billion worth of the cryptocurrency between August and September.
Shares of crypto-adjacent name MicroStrategy Inc (NASDAQ:MSTR) are 4.2% lower today, last seen trading at $135.56, falling alongside Bitcoin (BTC).
Why This Company's All-In on Crypto and What It Means for Investors
MicroStrategy shares rose 8% on Friday and 24% for the week. Founder and Chairman Michael Saylor said the company added another $1.1 billion worth of bitcoin to its coffers.
MicroStrategy, once known for its business software, continues its transformation into a “Bitcoin development company” by significantly expanding its Bitcoin holdings. The company, led by Executive Chairman Michael Saylor, has acquired an additional 18,300 BTC, valued at approximately $1.1 billion, at an average price of $60,408 per Bitcoin.
Software company MicroStrategy Inc MSTR has purchased more Bitcoin BTC/USD, continuing the company's strategy of buying the leading cryptocurrency asset.
MicroStrategy is a premier Bitcoin play on NASDAQ, positioned for explosive growth during the upcoming Q4 2024 crypto bull run. MSTR has outperformed nearly every S&P 500 stock since adopting a corporate Bitcoin strategy in August 2020, generating almost $5 billion in profit. The company holds 226,500 bitcoins, making it a highly leveraged Bitcoin play, with significant risk factors including Bitcoin price volatility, crypto hackers, and Michael Saylor's influence.
Vice President Kamala Harris and former President Donald Trump faced off in the first presidential debate yesterday, after which pop star Taylor Swift endorsed Harris.
Hitting $13 million is a tall order for Bitcoin. Is it possible?
Shares of cryptocurrency stocks including Coinbase Global (COIN) and MicroStrategy (MSTR) were on the rise Monday as the price of bitcoin (BTCUSD) recovered from a Friday drop.