MicroStrategy Stock Soars 15% Amid Bitcoin Rally
16.07.2024 16:00 1 min. read Alexander Stefanov
MicroStrategy saw its stock rise 15% on Monday, following Bitcoin's surge to $65,000 with double-digit gains.
MicroStrategy’s Strong Performance MicroStrategy (MSTR) has consistently outperformed Bitcoin, with a 22% jump in the last week versus Bitcoin’s 13%. Since January, MSTR has soared 135%, compared to Bitcoin’s 44% gain. Over the past year, MSTR has increased by 258%.
This growth is tied to MicroStrategy’s substantial Bitcoin reserves. The company announced a 10:1 stock split to make shares more accessible. Since integrating Bitcoin into its reserves, MSTR has outpaced major tech stocks like Nvidia.
To outperform $NVDA – get on the #Bitcoin Standard. pic.twitter.com/Dp361BFfPi
— Michael Saylor⚡️ (@saylor) July 15, 2024
The crypto market’s recovery, alongside Wall Street’s rally, has also boosted other crypto stocks like Coinbase (COIN) and Marathon Digital (MARA).
Inspired by MicroStrategy’s success, other companies are adding Bitcoin to their balance sheets to boost stock performance. Japan’s Metaplanet has acquired 225 Bitcoins in two months, leading to a 500% rise in its share price.
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