MicroStrategy’s Bitcoin Holdings Drive Stock to Two-Year High – Here’s the Latest
MicroStrategy’s recent decision to invest heavily in Bitcoin has paid off in spades, as the company’s stock has surged to its highest level in two years. In August 2020, the software company announced that it had acquired 21,454 BTC at an aggregate purchase price of $250 million. Since then, the price of Bitcoin has nearly doubled, and MicroStrategy’s stock has seen a corresponding surge.
The stock’s surge has been bolstered by the company’s ongoing commitment to Bitcoin. In December 2020, the company announced that it had purchased an additional $175 million worth of BTC. To date, MicroStrategy has invested over $1.1 billion in Bitcoin, and the company has become one of the largest holders of the cryptocurrency in the world.
In addition to its ongoing investment in Bitcoin, MicroStrategy is also making strategic moves to capitalize on the surging demand for blockchain-based services. The company recently unveiled MicroStrategy Intelligence, its enterprise analytics and mobility software platform, which will allow customers to integrate blockchain into their organizations. The company is also partnering with industry giants like IBM to offer blockchain-powered services to its customers.
It’s clear that MicroStrategy’s bet on Bitcoin is paying off, and the future looks bright for the company and its shareholders. With the growing acceptance of Bitcoin as an asset class, and MicroStrategy’s continued commitment to the asset, the stock is likely to remain a strong performer for the foreseeable future.