The post Is MicroStrategy’s Bitcoin strategy working? MSTR hits $196 near ATH appeared on BitcoinEthereumNews.com.

Diversified cloud-based services provider MicroStrategy’s shares traded at $196 earlier today, 2% shy of its all-time high, supported by its Bitcoin acquisition strategy adopted in 2020. According to its latest filing last month, the company now holds 252,220  bitcoins which represents 1.2% of the overall Bitcoin supply. MicroStrategy started stashing Bitcoin in August 2020, driving its stock to a 1,208% surge, pacing faster than Bitcoin itself, which has risen by 445%. The company has continued to capital raise for more Bitcoin acquisitions under the leadership of Michael Saylor. To date, MicroStrategy holds $16 billion worth of Bitcoin, with an average purchase price of over $39,000 per Bitcoin. Bitcoin’s obtaining market price is pegged at $62,000. This is a developing story Source: https://www.cryptopolitan.com/is-microstrategys-bitcoin-strategy-working-mstr-hits-196-near-ath/

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Filed under: News - @ October 8, 2024 7:20 pm