Stock Track | MicroStrategy Soars Over 5% as Bitcoin Bet Continues to Pay Off

Stock Track

Oct 28, 2024

MicroStrategy Inc. (MSTR) saw its shares soar by over 5% in the last 24 hours, fueled by the company's continued success in its bold strategy of holding Bitcoin as a primary reserve asset.

The software company, led by CEO Michael Saylor, has been at the forefront of institutional adoption of Bitcoin, becoming the first publicly-listed company to embrace the cryptocurrency as a treasury reserve asset in 2020. Since then, MicroStrategy has amassed over $17 billion worth of Bitcoin holdings, making it the largest corporate holder of the digital asset.

This Bitcoin bet has paid off handsomely for MicroStrategy, with its stock price surging by an impressive 242% year-to-date, vastly outperforming Bitcoin itself. On Friday, the company's trading volume of $5.8 billion even surpassed tech giants like Amazon and Alphabet, prompting Saylor to coin the term "Magnificent 8" to reflect MicroStrategy's growing stature alongside the "Magnificent 7" tech behemoths.

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(MSTR) saw its shares soar by over 5% in the last 24 hours, fueled by the company's continued success in its bold strategy of holding Bitcoin as a primary reserve asset.</p>\n\n<p>The software company, led by CEO Michael Saylor, has been at the forefront of institutional adoption of Bitcoin, becoming the first publicly-listed company to embrace the cryptocurrency as a treasury reserve asset in 2020. Since then, MicroStrategy has amassed over $17 billion worth of Bitcoin holdings, making it the largest corporate holder of the digital asset.</p>\n\n<p>This Bitcoin bet has paid off handsomely for MicroStrategy, with its stock price surging by an impressive 242% year-to-date, vastly outperforming Bitcoin itself. On Friday, the company's trading volume of $5.8 billion even surpassed tech giants like Amazon and Alphabet, prompting Saylor to coin the term \"Magnificent 8\" to reflect MicroStrategy's growing stature alongside the \"Magnificent 7\" tech behemoths.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSTX","symbol_name":"2倍做多MSTR ETF-Defiance","start_time":0,"source_url":"","article_id":"1151315631","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151315631","pubTimestamp":1730107344,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"MicroStrategy Inc.  saw its shares soar by over 5% in the last 24 hours, fueled by the company's continued success in its bold strategy of holding Bitcoin as a primary reserve asset.The software company, led by CEO Michael Saylor, has been at the forefront of institutional adoption of Bitcoin, becoming the first publicly-listed company to embrace the cryptocurrency as a treasury reserve asset in 2020. 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