Catenaa, Friday, December 06, 2024 – Shares of MicroStrategy Inc. surged by more than 8% Thursday following Bitcoin’s landmark rise to $100,000 late Wednesday.
The software firm, led by Michael Saylor, has amassed significant Bitcoin holdings since 2020, with the recent price surge proving highly profitable. Bitcoin continued its upward trajectory on December 5, reaching nearly $103,500.
This year’s performance has been stellar, with MicroStrategy’s treasury operations delivering a 63.3% yield, benefiting shareholders with roughly 119,800 BTC.
At the current value, those holdings equate to $12.3 billion, marking MicroStrategy as one of the fastest-growing companies on the Bitcoin standard.
Saylor had previously announced plans for a celebration upon Bitcoin reaching $100,000, and confirmed the event would proceed as scheduled.
Later on one occasion he opined that Bitcoin would hit $180, 000
The cryptocurrency’s latest rally follows an increase in market optimism, largely driven by expectations of favorable regulatory changes under President-elect Donald Trump.
Trump’s anticipated regulatory overhaul, including a shift of digital asset oversight from the SEC to the CFTC, has bolstered investor confidence.
As Bitcoin’s value rises, MicroStrategy’s stock, which has jumped nearly 600% this year, continues to outpace traditional markets.
With Trump’s inauguration just over a month away, industry insiders are watching closely to see how these developments will impact both Bitcoin’s price and MicroStrategy’s stock in the coming months.
