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.
Cinthia Murphy discusses everything crypto with Oliver Renick. She talks about how investors are seeking diversification with gold and bitcoin ETFs and talk about themes continuing into next year.
MicroStrategy (MSTR -4.37%) has been public since the late 1990s. However, the company's aggressive foray into Bitcoin has made it a bonafide market beater in recent years; the stock has soared more than 700% over the past year alone and more than 2,600% since late 2019.
MicroStrategy NASDAQ: MSTR stock is up more than 500% since the beginning of 2024 and has the potential to grow even more. As the world's largest corporate holder of Bitcoin (CRYPTOCURRENCY: BTC) and a potential pioneer in establishing a Bitcoin reserve bank, the company is well-positioned in an industry where the underlying asset is expected to keep appreciating in value.
MicroStrategy (NASDAQ: MSTR), a business intelligence firm turned Bitcoin (BTC) powerhouse, has once again grabbed headlines with its largest-ever Bitcoin acquisition to date.
MicroStrategy (MSTR -4.37%) has become one of the most valuable stocks on the Nasdaq by pursuing a simple strategy: buying Bitcoin (BTC -6.46%).