MicroStrategy’s Jaw-Dropping Bitcoin Strategy: A Stellar 30% Spike in Stock Value in Just a Month!
Cryptocurrencies, especially Bitcoin, have been a buzzword in the financial world, and many companies have dabbled with them. But, MicroStrategy’s commitment stands unparalleled.
A Bold Play with Bitcoin
MicroStrategy, a listed company in the United States, has always been a steadfast believer in Bitcoin. As of their third-quarter financial report released on November 2, the company has shown an aggressive purchase trend. Following their acquisition of 5,445 Bitcoins in late September at an average price of $27,053, the firm further stocked up their crypto reserves by adding another 155 Bitcoins in October, spending $5.33 million. As of now, their massive crypto chest boasts 158,400 Bitcoins.
Turning the Tables: A Whopping $960 Million Profit
Despite the cryptic bear market vibes of 2022 which kept MicroStrategy’s Bitcoin holdings in a significant loss for a prolonged period, the winds started changing in mid-October. With Bitcoin’s price surging from $26,500 on October 12 to nearly touching $36,000 on November 2 — a robust growth of 35% in a span of few weeks — MicroStrategy’s Bitcoin holdings shifted from a position of loss to a remarkable unrealized profit of approximately $960 million.
Founder Michael Saylor’s Proud Showcase
Post the release of the Q3 financial statements, co-founder Michael Saylor didn’t hold back from flaunting the company’s impressive performance. The company’s strategy of purchasing Bitcoin began in August 2020. Saylor highlighted Bitcoin’s price trends in comparison to other assets during this period. Astonishingly, Bitcoin’s growth, at 192%, overshadowed the S&P 500, major tech stocks, and even gold. Here’s a snapshot of the growth rates:
- Bitcoin soared by 192%
- S&P 500 rose by 25%
- Google jumped by 68%
- Apple surged by 51%
- Bond face value dipped by 24%
- Silver decreased by 18%
MicroStrategy’s Stock: Outperforming Even Bitcoin!
Interestingly, while Bitcoin has outshined most assets since 2020, MicroStrategy’s stock performance (MSTR) has outpaced even Bitcoin. In nearly three years, MSTR has witnessed a surge of about 242%, making it one of the best-performing entities. As the cryptocurrency market began to warm up, MSTR’s stock also responded positively, registering a nearly 30% increase in the past month, trading at $426.67 per share.
Keywords: MicroStrategy, Bitcoin, Cryptocurrency, Michael Saylor, Stock Performance, Crypto Investments, MSTR, Bitcoin Holdings
