MicroStrategy’s stock price popped 6% on Thursday to above $230, touching a nearly 25-year high as a six-week rally for the world’s largest corporate holder of Bitcoin continued.
Less than two months ago, MicroStrategy shares were valued at $118, trending lower as Bitcoin hovered around $56,000 on Sept. 6. While the digital asset’s price has climbed 20% since then to $67,600, MicroStrategy’s share price has surged by comparison, nearly doubling over that period of time.
Shedding its label as an enterprise software firm, MicroStrategy has positioned itself as a Bitcoin development company.
Earlier this month, MicroStrategy co-founder and Executive Chairman Michael Saylor said that endeavor involves becoming a “Bitcoin bank,” which he had described as creating “Bitcoin capital market instruments across equity, convertibles, fixed income, and preferred shares.” The firm also previously disclosed plans to create a decentralized identity protocol on Bitcoin.
The company’s trove of 252,220 Bitcoin is currently valued at $17 billion, reflecting ove
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Author: André Beganski
