The post MicroStrategy stock hits all-time high after 24 years appeared on BitcoinEthereumNews.com.

Key Takeaways MicroStrategy’s stock hit an all-time high of $340, the first since the dot-com bubble in 2000. The company holds 279,420 BTC, with its bitcoin holdings generating $11.4 billion in unrealized profits. MicroStrategy’s stock hit a new all-time high of $340 today, a landmark not seen since March 2000 during the height of the dot-com bubble. The stock’s performance has been fueled by Bitcoin’s recent surge, reaching over $87,000, a rally influenced by Donald Trump’s re-election and the Federal Reserve’s recent interest rate cut. MicroStrategy has cemented itself as the largest corporate Bitcoin holder, with approximately 279,420 BTC. Earlier today, the company announced another substantial Bitcoin purchase, adding to its already impressive holdings. With an average purchase price of around $42,800 per Bitcoin, MicroStrategy now holds unrealized profits of roughly $11.4 billion on its Bitcoin portfolio. The company’s stock has outperformed most S&P 500 companies, delivering over 500% returns this year. The recent surge in MicroStrategy’s shares coincides with bitcoin trading above $87,000, highlighting the strong correlation between the company’s stock performance and bitcoin prices. MicroStrategy has continued its bitcoin acquisition strategy since 2020, maintaining its position as the largest corporate holder of the digital asset. Source: https://cryptobriefing.com/microstrategy-stock-peak-bitcoin/

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Filed under: News - @ November 11, 2024 8:22 pm