The post MicroStrategy (MSTR) Price Soars to an All-Time High appeared on BitcoinEthereumNews.com.

Shares in MicroStrategy (MSTR) – the world’s largest corporate Bitcoin owner – have surged to a new all-time high for the first time in 24 years amid Bitcoin’s scorching post-election rally on Monday. MicroStrategy’s Triumphant Return On Monday, MSTR opened at $296 per share –roughly 10% above Friday’s close. Soon after, the stock climbed throughout the day to $340 by the day’s end – a new record for the decades-old company software company. The company’s last high was achieved in March of 2000 during a brief wick up to $313 per share. The stock quickly collapsed down to just $17 by May of that year, and down to less than $0.50 by July of 2002. MSTR then spent the next two decades sequestered well under $20 per share until MicroStrategy pivoted its entire treasury into BTC in August 2020. From then on, the company’s value multiplied substantially, and the stock began trading closely to BTC as a proxy of the digital asset. MicroStrategy has spent the past four years accumulating as much Bitcoin as possible using a combination of leverage and stock issuance. The company now owns, 279,420 BTC, on which it is now sitting on a $12.6 billion profit, according to Saylortracker. MSTR Outperforms Bitcoin The company’s latest stock rally has outperformed even Bitcoin, with the firm’s total market cap now close to 3X the value of the BTC on its balance sheet. MSTR is up 396% year to date, versus BTC’s 109% rise. On Monday, MicroStrategy executive chairman Michael Saylor announced another purchase of 27,200 BTC for $2.03 billion – his largest purchase yet. “Our $MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” he tweeted on Monday. Last month, MicroStrategy…

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Filed under: News - @ November 12, 2024 1:18 am