MicroStrategy Stock Climbs Higher on Increased Bitcoin Holdings
MicroStrategy is on a winning streak! Their stock, MSTR, is riding high alongside the price of bitcoin, which reached over $98,000 on Friday morning. As the largest corporate holder of bitcoin, many investors view MicroStrategy as one of the top stock picks in the world of cryptocurrencies.
President-elect Donald Trump’s comments during the campaign about making the U.S. the “crypto capital of the planet” have also added fuel to the fire. MicroStrategy shares have been climbing since the election, jumping 3% in recent trading and hitting an all-time high last week. Impressively, they are up over 500% year-to-date.
Bitcoin’s price surge was further fueled by Benchmark analyst Mark Palmer, who predicted that the digital coin could more than double in the next two years, possibly hitting $225,000 by the end of 2026.
This week, MicroStrategy made headlines again by announcing the purchase of an additional 55,500 bitcoin for a whopping $5.4 billion between Nov. 18 and Nov. 24. This brought their total bitcoin holdings to 386,700 BTC, with an average purchase price of $56,761 each.
It’s clear that MicroStrategy is making moves in the world of cryptocurrencies, and their stock performance reflects the excitement and momentum in this space. Investors are keeping a close eye on these developments, as the company continues to be a key player in the evolving landscape of digital assets.
