🌎 MicroStrategy Soars 6% as Bitcoin Hits New High

MicroStrategy Stock Sees 6% Gain as Bitcoin Surges to New All-Time High

MicroStrategy shares have experienced a significant surge in pre-market trading, with a gain of over 6% as the cryptocurrency market sees substantial gains, fueled by Bitcoin’s rise to a new all-time high.

MicroStrategy to Join Nasdaq-100 Index

The MicroStrategy shares’ price is also rising in response to the news that the company, a leading corporate holder of Bitcoin, is set to be included in the Nasdaq-100 index. This development has led to highly bullish sentiment in the BTC-focused business intelligence and software company.

Ahead of the upcoming listing, which takes effect on December 23, the buying pressure that often comes with the listing, as funds acquire the new component, could further fuel gains for MicroStrategy’s price.

MicroStrategy’s Bitcoin Strategy

MicroStrategy has exploded in the past year, with the surging Bitcoin helping catalyze upside momentum for crypto stocks. The company, led by Michael Saylor, first added Bitcoin to its balance sheet in 2020 and has since acquired a staggering 423,650 BTC for approximately $25.6 billion.

The total holdings average purchase price is $60,324 per Bitcoin and was valued at roughly $42.3 billion with the Bitcoin price above $100k. Notably, the benchmark cryptocurrency has reached a new all-time high of over $106k after the latest leg up.

Market Performance

The MicroStrategy stock has soared by more than 350% year-to-date. Over the past four years, MSTR has outperformed the S&P 500, gold, real estate, and bonds, with an annualized performance of 124%.

In comparison, Bitcoin has had an annualized return of 64%, while the S&P 500 and real estate have seen returns of 15% and 10%, respectively. Meanwhile, safe haven asset gold has had an annualized return of just 7%, and bonds have stood at -5%.

Never. Never. Never give up.

Founder and Chairman Michael Saylor, who sees Bitcoin as ‘digital property,’ has expressed his optimism for the company’s performance.

What’s Next for MicroStrategy?

Analysts are looking at MicroStrategy’s potential to continue outpacing peers in the market, with the move to have MSTR make up the Nasdaq-100 index potentially paving the way for its inclusion in the S&P 500 next.

As the cryptocurrency market continues to evolve, investors are advised to stay informed and consider the following tips: