Crypto Blog
Shares in MicroStrategy – the world’s largest corporate Bitcoin owner – have surged to a new all-time high for the first time in 24 years amid Bitcoin’s scorching post-election rally on Monday.On Monday, MSTR opened at $296 per share –roughly 10% above Friday’s close. Soon after, the stock climbed throughout the day to $340 by the day’s end – a new record for the decades-old company software company.
MSTR then spent the next two decades sequestered well under $20 per share until MicroStrategy pivoted its entire treasury into BTC in August 2020. From then on, the company’s value multiplied substantially, and the stock began trading closely to BTC as a proxy of the digital asset. On Monday, MicroStrategy executive chairman Michael Saylor announced another purchase of 27,200 BTC for $2.03 billion – his largest purchase yet.
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