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4 hours ago
MicroStrategy Incorporated (NASDAQ:MSTR) has experienced an extraordinary 674% increase in its stock price year-to-date in 2024, a rally driven by its massive Bitcoin holdings and the cryptocurrency’s record-breaking performance this year.
The company's Bitcoin strategy, spearheaded by Chairman Michael Saylor, has not only boosted its stock but has also resulted in over $15 billion in unrealized profit from its Bitcoin holdings.
This surge has rippled across ETFs with significant MicroStrategy exposure, enhancing their returns in a bullish market.
MicroStrategy, one of the largest corporate holders of Bitcoin, currently owns 331,000 BTC, with a cumulative acquisition cost of over $16 billion.
With the recent surge in Bitcoin prices, these holdings have soared in value, providing a staggering profit that underscores the company's high-stakes bet on cryptocurrency.
This performance has drawn increased attention to ETFs ...
