- Microstrategy’s Bitcoin bet is paying off with significant yields in 2024.
- $MSTR stock surged to an all-time high, outperforming Bitcoin itself.
- The company plans to acquire even more Bitcoin in the future.
Microstrategy’s Bitcoin bet is paying off. Recently, the company’s executive chairman and co-founder, Michael Saylor, went on Twitter to share the company’s recent profits in 2024.
According to Saylor – Microstrategy achieved a 20.4% yield quarter-to-date from its BTC holdings, and a 41.8% yield since the beginning of the year. The company recently acquired 51,780 BTC – around $4.6 billion for an average price of $88.627 per token.
Currently, the company holds 331,200 $BTC – over 30 billion dollars. The world’s largest crypto is currently trading at $90,556, trading at a 32.45% increase over the past 30 days.
The recent cryptocurrency rush since the Presidential election has also reflected on the performance of Microstrategy stock. Today, after news of the new BTC acquisition made the headlines, $MSTR went up by ~$44.00 – an increase of 12.96%.
Each Microstrate share now trades at $384.79 – its all-time highest price. In October, the company announced a roadmap for acquiring even more Bitcoin in the next couple of years. Since then, $MSTR went up by a whopping 73%.
Interestingly, the company is outperforming even Bitcoin itself. Since the Trump victory on November 5th – Bitcoin went up by 32.68%. Meanwhile, $MSTR grew 68% in the same timeframe.
Michael Saylor’s company intends to buy even more BTC in the future. With a solid strategy and significant gains, Microstrategy’s influence in the crypto market continues to grow.
