Bitcoin: Microstrategy Stock Reaches 2-year High After BTC Surge
Micheal Saylor is one of the most vocal Bitcoin (BTC) proponents globally. Saylor’s firm, Micro strategy , is also one of the biggest holders of the original crypto. Micro strategy ’s stock price has surpassed the $520 mark, the highest since December 2021. The company’s strategy of holding BTC for the long term has yielded lucrative results. Micro strategy currently boasts a market cap of about $7.33 billion. Also Read : Bitcoin: GBTC May Lose $2.7B If ETF Approved: JPMorgan . Micro strategy ’s stock price doubled in just one month earlier this year. The firm’s BTC holdings have turned profitable, with an average purchase price of $29,803 per coin. The company currently holds around 140,000 Bitcoin, worth around $4.4 billion. Although the company reported a loss of $143.4 million in its last quarterly report, it continued to buy BTC, purchasing 6,067 coins for about $167 million. Will Bitcoin continue its upward momentum? Analyst...