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MicroStrategy Skyrockets With Bitcoin’s Surge Past $106,000: Details
MicroStrategy, the business intelligence firm, has seen its market value surge to over $100 billion due to a recent price rally of Bitcoin. According to reports, MicroStrategy will likely be included in the Invesco QQQ Trust ETF, which tracks the Nasdaq-100 index.
The company’s share prices have been on an upward trajectory since October, increasing by more than 40%. This surge has seen its market value rise to a staggering $100 billion, surpassing many other companies that are already members of the Nasdaq-100.
MicroStrategy’s impressive performance is largely attributed to its decision to invest heavily in Bitcoin. In 2020, MicroStrategy made headlines when it bought 14,000 BTC for just over $250 million. Since then, the company has continued to accumulate more Bitcoins, now holding an impressive 129,500 coins worth around $5 billion.
This massive investment in Bitcoin has led to a significant increase in the company’s value and is likely to attract even more attention from institutional investors.
Source: u.today
