Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Is MicroStrategy’s Bitcoin strategy working? MSTR hits $196 near ATH

Source Cryptopolitan

Diversified cloud-based services provider MicroStrategy’s shares traded at $196 earlier today, 2% shy of its all-time high, supported by its Bitcoin acquisition strategy adopted in 2020.

According to its latest filing last month, the company now holds 252,220 bitcoins which represents 1.2% of the overall Bitcoin supply.

MicroStrategy started stashing Bitcoin in August 2020, driving its stock to a 1,208% surge, pacing faster than Bitcoin itself, which has risen by 445%.

The company has continued to capital raise for more Bitcoin acquisitions under the leadership of Michael Saylor.

To date, MicroStrategy holds $16 billion worth of Bitcoin, with an average purchase price of over $39,000 per Bitcoin. Bitcoin’s obtaining market price is pegged at $62,000.

This is a developing story

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Goldman Sachs: Structurally Bullish on Gold to $5,400, But Warns of Short-Term Pullback Goldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end

Author TradingKey

11 hours ago

Goldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end

UAE Announces Exit From OPEC. Wall Street Warns: Medium-Term Oil Prices Face Downside Risks The United Arab Emirates (UAE) has officially announced that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance on May 1.Bl

Author TradingKey

15 hours ago

The United Arab Emirates (UAE) has officially announced that it will formally withdraw from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ alliance on May 1.Bl

Gold holds steady near $4,600 as Fed rate decision looms Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.

Author FXStreet

20 hours ago

Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.

Fed FOMC Meeting Is Approaching: Where Is the Focus? Will There Be More Rate Cuts This Year?Global financial markets are set for a "Super Central Bank Week" this week, as five major central banks, including the Federal Reserve, the European Central Bank, and the Bank of Japan, a

Author TradingKey

Yesterday 06: 22

Global financial markets are set for a "Super Central Bank Week" this week, as five major central banks, including the Federal Reserve, the European Central Bank, and the Bank of Japan, a

Japanese Yen extends the range play against USD; looks to BoJ for fresh impetus The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.

Author FXStreet

Yesterday 01: 17

The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.

Popular Symbols