Bitcoin

On Black Friday, MicroStrategy&#39;s (NASDAQ:MSTR) market worth jumped to $7.33 billion, a level not seen since December 2021. The closing price of the shares was much over $500.MicroStrategy&#39;s continued success as the market leader in cryptocurrency requires a long-term strategy. Despite having a quarterly deficit to begin the year, the stock price more than doubled in less than two weeks. In August of 2020, Michael Saylor, founder and chairman of the firm, began buying Bitcoin as a hedge against inflation. Today, the organization is one of the top institutional investors of the cryptocurrency.According to Saylor, this is the reason why everyone is very enthusiastic about the upcoming twelve months. There will be less on hand when more is needed. Nothing like this has ever happened on Wall Street before.After then, things looked even brighter. The value of MicroStrategy&#39;s Bitcoin shares increased in April. When Bitcoin&#39;s price rose above $30,000, the company bought an additional 1,045 BTC, bringing its total number of shares to 140,000. Over $4 billion worth of digital assets sold at an average price of $29,803 per coin.After reporting a $24 million Bitcoin impairment charge in its second quarter financial report, the largest publicly traded company using Bitcoin on its balance sheet, MicroStrategy, is now profitable again and has purchased 152,800 Bitcoins valued about $4.4 billion.If Bitcoin were making a comeback now, the stock performance of companies exposed to Bitcoin would still be greater than Bitcoin&#39;s own performance this year, which is up 87%.In the most recent quarterly report, which was released in the beginning of November, the company&#39;s net loss rose to $143.4 million, a substantially darker shade of red. MicroStrategy continued to add Bitcoin to its holdings, eventually purchasing 6,067 Bitcoin for a total of $167 million.The company presently holds approximately 0.75 percent of all Bitcoins in circulation.#BTC

The Stock of Microstrategy Has Nearly Reached a Two-year High

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