MicroStrategy (MSTR), a prominent Bitcoin holding company, has once again expanded its BTC holdings with a substantial purchase of 14,620 Bitcoin, amounting to a staggering $615.7 million. The former CEO of the American business intelligence (BI) firm announced the acquisition, highlighting the company’s continued confidence in Bitcoin’s long-term potential. With the potential approval of Bitcoin spot exchange-traded funds (ETFs) on the horizon, MicroStrategy aims to capitalize on the positive impact on BTC’s price and the company’s profitability in the leading cryptocurrency market. MicroStrategy Stock Skyrockets 337% According to a CNBC report, MicroStrategy’s stock has experienced a remarkable 337% surge in 2023, making it one of the top gainers among US companies valued at $5 billion or more. This success surpasses the rallies of industry giants like Nvidia and Meta. Unlike its tech peers, MicroStrategy’s appeal to investors stems primarily from its Bitcoin holdings. Related Reading: Bitcoin Grabs 14th Spot As World’s Most Valued Currency, Latest Data Show MicroStrategy’s market capitalization currently stands at $8.5 billion, with a staggering 90% directly tied to its Bitcoin holdings. The company’s stock ..
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