The post The Best-Performing Crypto Stock of 2024 appeared on BitcoinEthereumNews.com.

MicroStrategy Inc., the business intelligence company that is now the biggest corporate holder of Bitcoin, has ranked as the best-performing cryptocurrency stock in 2024, according to The Block. The company’s stock climbed up to 402% on the year, pushing the company’s market cap to $83 billion. This continued the trend of MicroStrategy buying more Bitcoin (BTC) in 2024.  According to reports from Dec. 23, the firm currently possesses close to 444,262 BTC, worth in excess of $45 billion at present-day prices. BTC’s phenomenal 120% price rally in 2024 — spurred on by market boosters such as a spot Bitcoin ETF approval, April’s BTC halving, and geopolitical endorsements of the asset class — played an important role in the firm’s holdings. According to Coingecko, the S&P 500 index gained 26%, reflecting a clearly positive macro environment, and BTC’s price was a tailwind for crypto-linked stocks, jumping 129%.  Other big gainers in the crypto space included Core Scientific, a 307% surge, which was awarded a significant 12-year contract with AI hyperscaler CoreWeave, as per The Block. Terawulf gained 142% on the back of 100% year-over-year growth in its self-mining hashrate capacity to 10.0 EH/s, as of Sept. 30.  Bitdeer Technologies saw a 122% increase as the firm’s push to incorporate its produced mining rigs into its own operations made it one of the most vertically integrated companies among publicly listed BTC miners.  MicroStrategy to accquire more capital stock MicroStrategy has further stated it will hold a shareholder meeting in early 2025. Key proposals being put to a vote at the meeting include increasing the number of authorized class A common shares and raising the number of authorized preferred shares. These developments come as the company is enacting its 21/21 plan, seeking a total of $42 billion from $21 billion in equity and…

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Filed under: News - @ December 25, 2024 3:15 pm