MicroStrategy shares hit $196, 2% away from ATH

Share this article

Earlier today, MicroStrategy shares hit $196, just 2% away from an all-time high, largely driven by its aggressive Bitcoin buying strategy.

The company’s stock behaves like a leveraged version of Bitcoin during bullish phases, reflecting the close correlation between the two. CryptoQuant, an on-chain analytics firm, commented on the issue.

Since August 2020, when MicroStrategy started buying Bitcoin, its stock is up a remarkable 1,208%, while Bitcoin itself is up 445%. Under the leadership of Michael Saylor, MicroStrategy has continuously raised capital to expand its Bitcoin holdings.

Starting with her last deposit as of September 2024, MicroStrategy holds 252,220 bitcoins, representing 1.2% of the total Bitcoin supply.

Currently, MicroStrategy’s Bitcoin holdings are valued at approximately $16 billion, with an average purchase price of just over $39,000 per Bitcoin. In comparison, the current market price of Bitcoin is around $62,000.

With over $1 billion in available funds, MicroStrategy is expected to further increase its Bitcoin holdings, potentially surpassing Grayscale’s current total of 254,000 Bitcoins. This would position MicroStrategy as one of the largest holders of Bitcoin, trailing only entities such as BlackRock, Binance and Coinbase, which hold Bitcoin on behalf of clients.

Michael Saylor’s vision to make MicroStrategy a major player in the Bitcoin market led the company to use the capital markets to fund its aggressive acquisition strategy.

Share this article