30s Summary

MicroStrategy, the largest corporate Bitcoin owner, has experienced a 94% rise in stock due to the cryptocurrency’s value surpassing $97,000. The company’s Bitcoin holdings, worth around $32 billion, have resulted in $15.51 billion in unrealised gains. MicroStrategy’s stock performance rivals Nvidia’s 180% increase. It has also outperformed major tech stocks such as Apple, Amazon, and Tesla. Despite these successes, MicroStrategy’s heavy reliance on Bitcoin exposes it to the crypto market’s volatility. Still, its market value already exceeded $100 billion as of November 19, and CEO Michael Saylor plans to persuade Microsoft to invest in Bitcoin.

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MicroStrategy, the biggest corporate Bitcoin owner that’s publicly traded, has seen a whopping 94% rise in their stock for the year thanks to Bitcoin skyrocketing over $97,000. They’ve got an impressive 331,200 Bitcoin safely tucked away, which is worth roughly $32 billion. So, that’s about a neat $15.51 billion in unrealised gains, according to Dropstab data.

When it comes to performance, MicroStrategy is outdoing everyone except Nvidia, which has seen a 180% increase this year! This soaring of MicroStrategy’s stock really highlights the growing interest in Bitcoin-backed equities among investors, and shows how traditional finance is embracing cryptocurrencies.

While Bitcoin’s soaring prices have stolen the limelight in 2024, don’t ignore MicroStrategy’s stock either. It’s been zooming ahead, outpacing big tech stocks like Apple by 21%, Amazon by 24%, and even Tesla by 6%. Even though considered a BTC (Bitcoin) substitute and a technology firm, MicroStrategy’s enterprise analytics business has been doing spectacularly, almost in tandem with Bitcoin. However, they do warn that any crypto market slump could cause valuations to dip.

Despite these powerful stats, MicroStrategy is heavily reliant on Bitcoin, making it vulnerable to the notorious volatility of the crypto market. A sharp drop in Bitcoin’s value could see the company’s stock price and valuation do a nosedive. It’s crucial to remember that as Bitcoin gets close to $100,000, analysts are advising folks to be prepared for some potential profit-taking soon.

Now here’s a kicker: MicroStrategy’s market value has crossed $100 billion as of November 19. And guess what? They’re all set to zoom past Intel, the chip-making firm with a $102 billion market cap as of November 20. And wait until you hear what their CEO, Michael Saylor, has in the works – he’s got a chance to convince Microsoft’s board about the many perks of investing in Bitcoin. Now, that’s something we’re all waiting to see!