Key Takeaways
- MicroStrategy's stock rose 30%, reaching $351 in a week.
- The company bought 27,200 Bitcoins, totaling 279,420 BTC.
- CEO Phong Le reaffirms a $42 billion Bitcoin investment plan.
MicroStrategy’s stock (MSTR) recently surged by 30%, reaching a new all-time high of over $351 as the company’s significant Bitcoin acquisition and rising Bitcoin prices bolster investor confidence.
As of today, MicroStrategy shares are trading at $345.98, with the company now holding a $70.26 billion market cap and a 30-day average trading volume of 20.47 million shares.
Recent purchase
In the last few days, MicroStrategy made a massive purchase of 27,200 Bitcoins for approximately $2 billion, bringing its total Bitcoin holdings to 279,420 BTC, valued at $24.3 billion.
This acquisition follows Bitcoin’s own climb to record-breaking prices above $89,000, a surge that has positively impacted firms with large Bitcoin reserves like MicroStrategy.
Last month, CEO Phong Le reiterated the company’s strategic commitment to Bitcoin as a treasury reserve asset, stating:
Our focus remains to increase the value generated to our shareholders by leveraging the digital transformation of capital.
MicroStrategy’s investment goal includes a three-year plan to acquire up to $42 billion in Bitcoin through capital raises.
With a historic 2.8x premium to its net asset value, MicroStrategy continues to be viewed as a primary Bitcoin proxy in the market, even as interest grows in Bitcoin ETFs.
