MicroStrategy's Stock Spikes Almost Triple Since It Acquired Bitcoin in August
MicroStrategy has witnessed a surge of nearly three times its share price since Aug. 11, when it first acquired Bitcoin with part of its reserve cash.
Meanwhile, Bitcoin has surged to a new all-time high of $29,244 earlier today.
From $134 to $389 per share, holding Bitcoin
MicroStrategy shook the community when, on Aug. 11, it announced it was allocating a mammoth $250 million of its reserve cash into Bitcoin.
It was the first publicly-traded company to acquire the flagship cryptocurrency.
As per a chart from Nasdaq, back on that day, MSTR was trading at $134.89. Today, on the last day of 2020, the share price constitutes $389.97—almost triple growth since August.
Alex DovbnyaMicroStrategy holds over $2 billion in Bitcoin
Later on, the company made a few more Bitcoin acquisitions, spending a total of $475 million on its BTC bet.
The latest BTC deal was made using the $650 million raised from investors using specially emitted shares for buying Bitcoin.
Overall, Michael Saylor's MicroStrategy has bet over $1 billion on the world's biggest cryptocurrency. This fiat worth of BTC holdings has surged to over $2 billion as Bitcoin reached a new all-time high above $29,000 earlier today.
Recently, Michael Saylor rejected multiple allegations of MicroStrategy running a Bitcoin ETP (exchange-traded product) or a Bitcoin ETF (exchange-traded fund).
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