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.
placeholder
Ripple says XRP reports will look different moving forward, avoiding an SEC repeat-case scenarioRipple CEO Brad Garlinghouse announced late Monday that the company will end its quarterly XRP Markets Report updates after Q2 2025.
Author  Cryptopolitan
May 06, Tue
Ripple CEO Brad Garlinghouse announced late Monday that the company will end its quarterly XRP Markets Report updates after Q2 2025.
placeholder
Gold Price Forecast: XAU/USD failure to breach $3,300 brings $3,250 back into focusGold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.
Author  FXStreet
Jun 30, Mon
Gold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.
placeholder
EUR/USD pulls back from highs as investors await further US employment dataThe EUR/USD pair posts moderate losses on Wednesday, trading near 1.1780 at the time of writing.
Author  FXStreet
Jul 02, Wed
The EUR/USD pair posts moderate losses on Wednesday, trading near 1.1780 at the time of writing.
placeholder
Solana’s first spot staking ETF launched with $33 million in trading volumeSolana’s first spot staking ETF launched with $33 million in trading volume on its debut day.
Author  Cryptopolitan
18 hours ago
Solana’s first spot staking ETF launched with $33 million in trading volume on its debut day.
placeholder
Nonfarm Payrolls set to show hiring environment in US labor market remained subdued in JuneThe all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
Author  FXStreet
18 hours ago
The all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.
goTop
quote