{"id":89000,"date":"2023-11-26T12:40:17","date_gmt":"2023-11-26T17:40:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/microstrategys-bitcoin-holdings-drive-stock-to-two-year-high-heres-the-latest\/"},"modified":"2023-11-26T12:40:19","modified_gmt":"2023-11-26T17:40:19","slug":"microstrategys-bitcoin-holdings-drive-stock-to-two-year-high-heres-the-latest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89000","title":{"rendered":"MicroStrategy&#8217;s Bitcoin Holdings Drive Stock to Two-Year High \u2013 Here&#8217;s the Latest"},"content":{"rendered":"<div>\n<figure id=\"attachment_136524\" aria-describedby=\"caption-attachment-136524\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-136524\" class=\"wp-caption-text\">Source: Adobe\/monticellllo<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">MicroStrategy, the enterprise business firm known for its bullish stance on\u00a0\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Bitcoin (BTC)<\/span><\/strong><span data-preserver-spaces=\"true\">, has seen its stock soar to a two-year high.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The technology company\u2019s shares closed above $500 on Black Friday, a level not seen since December 2021, according to\u00a0<\/span><span data-preserver-spaces=\"true\">data from Yahoo! Finance<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As of now, MicroStrategy boasts a market cap of $7.55 billion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">MicroStrategy\u2019s strategic decision to hold significant amounts of Bitcoin has proven to be a lucrative move.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite starting the year with a quarterly loss, the company\u2019s stock price doubled within a month.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As one of the largest institutional holders of Bitcoin, MicroStrategy\u2019s founder and chairman, Michael Saylor, began accumulating the cryptocurrency in August 2020 as a hedge against inflation.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThat\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street,\u201d he said in an interview with CNBC.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">MicroStrategy\u2019s fortunes continued to improve throughout the year.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By April, the company\u2019s Bitcoin holdings were in the green as the price of Bitcoin surpassed $30,000.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With the purchase of an additional 1,045 Bitcoin, increasing its total holdings to 140,000 Bitcoin, the average purchase price of the digital asset fell to $29,803 per coin.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although the second-quarter earnings report included a $24 million Bitcoin impairment charge, MicroStrategy as a company returned to profitability.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The largest publicly traded company with Bitcoin on its balance sheet continued its BTC buying spree, accumulating 152,800 coins worth about $4.4 billion.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Interestingly, the stocks of companies with exposure to Bitcoin outperformed the cryptocurrency itself, which had already seen an 87% increase in value this year.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Microstrategy Remains Committed to Bitcoin<\/span><\/h2>\n<p><span class=\"replacer\"><\/span><br \/><span data-preserver-spaces=\"true\">MicroStrategy\u2019s most recent quarterly report, released in early November, showed a net loss of $143.4 million, a deeper shade of red compared to the $27 million loss reported in the same period last year.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the company remained undeterred in its Bitcoin acquisition strategy, purchasing an additional 6,067 Bitcoin for $167 million.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With its significant holdings, MicroStrategy now controls approximately 0.75% of Bitcoin\u2019s total circulating supply.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It is worth noting that Microstrategy shares are also poised to benefit from the upcoming Bitcoin halving event.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Bitcoin halving occurs approximately every four years and is ingrained in the Bitcoin protocol.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It refers to the reduction in the rate at which new bitcoins are created and awarded to miners for validating transactions. The halving mechanism is designed to control inflation and limit the supply of bitcoins in circulation.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Halving events\u00a0<\/span><span data-preserver-spaces=\"true\">have significant implications<\/span><span data-preserver-spaces=\"true\">\u00a0for the supply and demand dynamics of Bitcoin, which can ultimately impact its price.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The reduction in new coin issuance creates a scarcity effect. With fewer BTC tokens entering the market, the available supply decreases.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Given the strong correlation between\u00a0<\/span><span data-preserver-spaces=\"true\">Microstrategy\u2019s stock price<\/span><span data-preserver-spaces=\"true\">\u00a0and the price of Bitcoin at approximately 90%, Berenberg suggests that Microstrategy\u2019s stock is likely to rally alongside Bitcoin.<\/span><\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/microstrategys-bitcoin-holdings-drive-stock-to-two-year-high-heres-the-latest.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Adobe\/monticellllo MicroStrategy, the enterprise business firm known for its bullish stance on\u00a0\u00a0Bitcoin (BTC), has seen its stock soar to a two-year high. The technology company\u2019s shares closed above $500 on Black Friday, a level not seen since December 2021, according to\u00a0data from Yahoo! Finance. As of now, MicroStrategy boasts a market cap of $7.55 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":89001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-89000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MicroStrategy&#039;s Bitcoin Holdings Drive Stock to Two-Year High \u2013 Here&#039;s the Latest | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Adobe\/monticellllo MicroStrategy, the enterprise business firm known for its bullish stance on\u00a0\u00a0Bitcoin (BTC), has seen its stock soar to a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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