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MicroStrategy Joins Nasdaq 100 as Bitcoin Price Soars
MicroStrategy’s stock price has surged in tandem with the rise of Bitcoin (BTC), which has seen its value breach the $101,000 mark. The company’s decision to invest heavily in BTC has seemingly paid off, as its stock performance now aligns with that of the cryptocurrency.
The recent surge past $100,000 has further solidified MicroStrategy’s position in the market, demonstrating a remarkable correlation between its stock and Bitcoin’s value. As one of the largest holders of Bitcoin, the company’s financial performance is heavily influenced by the cryptocurrency’s price movements.
MicroStrategy’s massive acquisition of 51,780 BTC for $4.6 billion has raised its total holdings to an impressive 331,200 BTC, valued at a staggering $30 billion. Despite being dwarfed by BlackRock’s iShares Bitcoin Trust, which holds 471,329 BTC, MicroStrategy remains one of the most significant holders of the cryptocurrency.
The company’s decision to view Bitcoin as a core reserve asset and inflation hedge has inspired similar moves by other companies like Marathon Digital and Semler Scientific.
Source: u.today
