The notable success rate for MicroStrategy through its Bitcoin strategy has attracted more global companies seeking to follow the same route.
Amid the highly anticipated breakout for Bitcoin BTC $111 507 24h volatility: 1.0% Market cap: $2.22 T Vol. 24h: $66.63 B after seven months of consolidation, MicroStrategy Inc (NASDAQ: MSTR) stock has proceeded with a bullish outlook. The Vienna-headquartered company, which engages in the provision of enterprise analytics and mobility software, has seen its stock market outshine the majority of the publicly traded companies with its Bitcoin strategy.
MicroStrategy’s trove of Bitcoins amounts to 252,220 coins and is valued at over $17 billion as of this report. With a dismal quarterly revenue from its subscription services, MicroStrategy has managed to yield impressive profits for its shareholders in the past few years.
According to the latest stock market data, MSTR value has surged over 282 percent since the beginning of this year to trade around $241.40 on a Friday, October 25, during the early New York session. The $43.6 billion company is well positioned to surpass a $100 billion valuation in the coming quarters without a major product in the market.
Furthermore, MSTR shares are currently retesting the peak reached during the internet bubble of mid-2000. With the ongoing bullish momentum, the MSTR stock market is well-positioned to enter its price discovery phase in the near term.
According to the company’s founder and chairman, Michael Saylor, Bitcoin is a must-have tool for companies seeking to hedge against fiat devaluation and macroeconomic uncertainties. Moreover, Bitcoin price has established itself as a global safe haven and the most valuable currency for the internet.
MicroStrategy Inspires More Global Companies
The palpable success of MicroStrategy through its Bitcoin strategy has inspired more companies around the world to follow the same path. For instance, Japan’s Metaplanet Inc has adopted the Bitcoin strategy in the recent past and its stock market has rallied over 500 percent year-to-date.
As Coinspeaker reported, Metaplanet recently completed a stock sale and raised over ¥10 billion, worth more than $67 million. As of this report, Metaplanet holds over 861 Bitcoins and has consequently adopted the Bitcoin yield as a key performance indicator.
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
MicroStrategy’s impressive performance has also inspired one of the most valuable tech companies in the world, Microsoft Corporation (NASDAQ: MSFT) to rethink its investment strategy. As Coinspeaker reported, Microsoft shareholders will be voting in December on whether the company should adopt a Bitcoin strategy.
MicroStrategy has proved to many investors that Bitcoin is an economic armor that is reliable in the long haul. Already, several Wall Street banks have been investing in Bitcoin through the recently approved spot BTC ETFs. Led by BlackRock’s IBIT, the US spot BTC ETFs have attracted over $66 billion in net cash under management.
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