MicroStrategy Stock Surges Further as Big Bitcoin Buys Pay Off | Global News Avenue

MicroStrategy (Magnetic transmission technology) Shares of Bitcoin soared again on Wednesday as the largest corporate holders of Bitcoin benefited from the cryptocurrency’s record high price.

Bitcoin price hits all-time high Over $94,000 On Tuesday, MicroStrategy had bought it in bulk. Over a six-day period earlier this month, the tech company Earn 51,780 Bitcoins Its price tag is around $4.6 billion, according to a recent regulatory filing, although some prices have crossed the $90,000 threshold.

As of Sunday, MicroStrategy held a total of 331,200 Bitcoins, worth about $31 billion at current prices. In fact, its stock has Outperforming Bitcoin This Yearsoaring nearly 700% this year, more than doubling the price of Bitcoin. Its shares have doubled this month, surging a further 15% to $495.98 in recent trading.

It is worth noting that the number of Bitcoins held by MicroStrategy is still far less than the 474,627 Bitcoins held by BlackRock’s iShares Bitcoin Trust as of yesterday (it will go), which is the largest Bitcoin Exchange Traded Funds (ETFs).