MicroStrategy continues its aggressive Bitcoin accumulation, growing its cache which currently values more than the cash holdings of IBM and Nike. Despite facing double taxation under the MicroStrategy C Corp structure, the company's boldness in Bitcoin investments has seen the market value of its BTC assets grow over 26.4% YTD. MicroStrategy's stock price fluctuated as it lost its 'controlled company' exemption. The company announced the largest Bitcoin purchase since 2020, buying $2.03 billion worth of Bitcoin. These strategic moves led to an increase in its share price and institutional investor interest. However, the company has faced criticism over the perceived overvaluation of its stocks. Despite this, the company's Return on Investment (ROI) on its Bitcoin portfolio now exceeds 100%. Its top executives have displayed confidence in Bitcoin, hinting at a potential surge in Bitcoin prices. Controversially, DeFi Technologies has adopted a similar strategy, with crypto stocks experiencing a boost after the US election. In its Q3 2024 financials, MicroStrategy announced a $42 billion Bitcoin investment plan prompting mixed reactions from analysts. Nonetheless, the company shows no signs of slowing down its Bitcoin acquisition spree.
Microstrategy News Analytics from Fri, 25 Oct 2024 07:00:00 GMT to Sat, 16 Nov 2024 18:30:41 GMT -
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