MicroStrategy Buys $1.1 Billion of Bitcoin
MicroStrategy (MSTR) stock has been on an incredible upward trajectory, delivering jaw-dropping returns for its investors. In 2024, the stock soared an astounding 358.54%, vastly outpacing the S&P 500 Index’s ($SPX) 23.
The total value of all cryptocurrencies in circulation currently stands at $3.5 trillion, which is near a record high. Bitcoin ( BTC 1.17%) accounts for more than half of that value, thanks to its market capitalization of almost $2 trillion.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
MicroStrategy continues its Bitcoin acquisition strategy with a new $1.1 billion purchase of 11,000 BTC, as announced by Michael Saylor.
The MicroStrategy CEO is buying as much of the cryptocurrency as he can. Some big-name investors are going along for the ride.
If you want exposure to Bitcoin without having to spend more than $100,000 for one coin, there are other ways to invest. You can buy fractions of a Bitcoin on crypto exchanges or brokerage platforms, invest in a Bitcoin ETF or look to crypto-related stocks and ETFs.
Michael Saylor’s Bitcoin strategy has attracted plenty of fanfare. Basically, MicroStrategy (NASDAAQ:MSTR) borrows money to buy more Bitcoin. The publicly-traded corporation currently owns about 2% of the world’s total Bitcoin supply,
"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.
MicroStrategy Inc. is considering perpetual preferred stock to fund its Bitcoin strategy, aiming to offer 1.5x returns and volatility. Trump admin may support crypto industry and repeal SEC rule.
Shares of MicroStrategy Inc. (MSTR) fell nearly 1% in pre-market trading on Tuesday after Bitcoin (BTC) prices tumbled from highs of $109,114.88 to as low as $100,103.96 on Monday. President Donald Trump was expected to mention Bitcoin during his inauguration speech on Monday.
MicroStrategy Incorporated (NASDAQ:MSTR), a provider of enterprise analytics and mobility software with a market capitalization of $94 billion, announced significant corporate developments following a Special Meeting of Stockholders held on Monday.