MicroStrategy Stock Hits All-Time High As Bitcoin Blazes Past $67,000
27 Octobre 2024 - 11:30PM
NEWSBTC
Michael Saylor’s MicroStrategy is back in the news, with its stock
trading at a 25-year high. TradingView’s recent data shows that
MicroStrategy (MSTR) hit $235.89 in Thursday’s session. The stock’s
price increased by more than 7% on October 25th. MicroStrategy’s
price action last Thursday continued its 6-week rally and came
ahead of its scheduled Q3 earnings report. Related Reading: Whales
Hit All-Time High Bitcoin Holdings At 670,000 – What Does This Mean
For BTC? This week’s stock performance reflected the company’s
consistent growth over the past few years. MicroStrategy has
outperformed most of its peers in the S&P 500 index and even
outpaced Microsoft’s growth since 1999. According to observers,
MicroStrategy is bullish, with market analysts listing $245 as the
stock’s next target. MicroStrategy Continues Its Bitcoin Focus
MicroStrategy, a Virginia-based Bitcoin development company, is
currently the world’s largest corporate holder of Bitcoin, with
252,222 BTC. With Bitcoin’s current price of $67,392, the company
holds more than $17 billion in assets. MicroStrategy Stock Hits New
Highs MicroStrategy’s stock (MSTR) has soared over 7% to a 25-year
high of $236, with a current market cap of $47 billion, overtaking
Microsoft in all-time stock gains. Since adopting Bitcoin as a
treasury asset in 2020, MicroStrategy’s stock is up…
pic.twitter.com/cyXS0KODCD — The Wolf Of All Streets (@scottmelker)
October 25, 2024 Initially, the company developed software to
analyze external and internal data to help decision-making, with
IBM Cognos, Oracle Corporation’s BI Platform, and SAP AG Business
objects as its primary competitors. However, in August 2020, the
company changed its business model to focus on Bitcoin. The company
has raised $4.25 billion from its equity offerings, the foundation
for growing its Bitcoin holdings. MicroStrategy’s Bitcoin Plan Has
Its Costs, Too As part of its Bitcoin plan, it aims to buy BTC at
every opportunity. For the most part, Saylor’s strategy was a hit.
However, the business plan to focus on Bitcoin came at a cost, and
Saylor earned a few detractors and critics along the way. For
example, the company has expanded its convertible note offering to
raise funds to buy more Bitcoin. However, the bulk of these notes
do not mature until 2032. Some market observers also say that
MicroStrategy is in a difficult situation, especially during market
downturns. Since the company relies on Bitcoin, the company’s
future is dependent on crypto’s extreme volatility. Although most
criticisms are valid, Michael Saylor remains defiant and has since
doubled its BTC investments. Hey @SatyaNadella, if you want to make
the next trillion dollars for $MSFT shareholders, call me.
pic.twitter.com/NPnVvL7Wmj — Michael Saylor⚡️ (@saylor) October 25,
2024 Related Reading: Against All Odds: Solana (SOL) Breaks Past
$176 In 3-Month Push Next Target For MicroStrategy Is $245 Market
observers are now bullish on Saylor’s company. According to Mark
Palmer, the company’s stock has boasted a 17.8% yield since
starting its Bitcoin strategy. Palmer and the other analysts now
target $245 to address this sudden surge and bullish sentiment.
Palmer adds that the company’s share price has increased by 1,600%
in the last four years, and more gains are possible. It also helps
that Michael Saylor has remained steadfast in his vision and
passion for Bitcoin. In a recent Twitter/X post, MicroStrategy’s
executive chairman hinted at the company’s next move and made a
pitch to Microsoft’s Satya Nadella. Featured image from Dall.E,
chart from TradingView
Bitcoin (COIN:BTCUSD)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Bitcoin (COIN:BTCUSD)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024