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MicroStrategy’s stock surges 1,620% amid Bitcoin strategy success

MicroStrategy’s stock surges 1,620% amid Bitcoin strategy success

GrafaGrafa2024/10/14 02:25
By:Mahathir Bayena

Microstrategy’s stock (MSTR) has skyrocketed 1,620% since adopting a Bitcoin-focused strategy, far surpassing the gains of Bitcoin (CRYPTO:BTC) itself, the S&P 500, and tech leaders like Nvidia.

The company, now holding over 252,000 BTC, continues to expand its Bitcoin investments, with executive chairman Michael Saylor reaffirming his bullish stance on the cryptocurrency.

According to a recent update from Saylor, MSTR’s stock has vastly outperformed key market indicators since August 2020.

During this period, Bitcoin has risen 426%, the S&P 500 has gained 73%, and the "Magnificent 7" tech giants, including Amazon, Apple, and Microsoft, have increased by 243%.

Saylor highlighted this performance on social media, stating, “The only thing better than Bitcoin is more Bitcoin … If you want to win, you need a Bitcoin strategy.”

Microstrategy’s aggressive approach to Bitcoin acquisition has distinguished it from other corporations.

As of September 2024, the company holds 252,220 BTC, solidifying its position as the largest corporate holder of Bitcoin.

In its latest purchase, Microstrategy acquired an additional 7,420 BTC for $458.2 million, at an average price of $61,750 per Bitcoin.

Microstrategy's stock performance has also outpaced major tech stocks like Nvidia, which saw a 1,107% gain, and Arista Networks, which increased 650%.

At the time of writing, the Bitcoin price was $62,681.12.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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