- MicroStrategy’s stock price has risen in tandem with the value of bitcoin, which exceeded $98,000 on Friday morning.
- As the largest corporate owner of bitcoin, MicroStrategy is regarded by numerous investors as a leading stock option associated with cryptocurrencies.
- This week, MicroStrategy revealed the acquisition of an additional 55,500 bitcoin (BTC) for around $5.4 billion from November 18 to November 24, bringing its total holdings to 386,700 BTC.
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MicroStrategy (MSTR) had another strong trading session, with the company’s status as the largest corporate holder of Bitcoin cementing its reputation as a premier cryptocurrency stock play for investors.
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The company’s shares have been surging alongside Bitcoin’s price since the election, fueled by President-elect Donald Trump’s pledge to make the U.S. the “crypto capital of the planet.” Recently advancing 3% in trading, the stock hit an all-time high last week and remains up more than 500% year-to-date.
Bitcoin surpassed $98,000 on Friday, bolstered by Benchmark analyst Mark Palmer’s bullish forecast that the cryptocurrency could more than double in the next two years. Palmer predicted Bitcoin might reach $225,000 by the end of 2026.
Earlier this week, MicroStrategy revealed it had acquired an additional 55,500 Bitcoin (BTC) between November 18 and November 24, spending approximately $5.4 billion. The company stated the average purchase price was $97,862 per Bitcoin, bringing its total holdings to 386,700 BTC at an average purchase price of $56,761.
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