The shares of this company rose 8.13% in the pre-market and once the market opened they advanced 7.3% on Wal Street.
MicroStrategywhich owns approximately $40 billion in Bitcoin, has seen its shares soar more than 490% so far this year. And in fact this Thursday, when BTC is trading at $102,868, its shares flew 8.13% in the pre-market and once the market opened, they advanced 7.3% on Wal Street.
“There is going to be a 100K party”published the CEO of MicroStrategy, Michael Taylora prominent Bitcoin advocate, upon the cryptocurrency reaching this milestone.
Despite this, it is important to note that MicroStrategy stock’s average daily volatility is 5.2%, significantly higher than the S&P 500’s 0.6%. The company’s aggressive Bitcoin acquisition strategy transformed it from a traditional enterprise software company into a prominent cryptocurrency investment vehicle.
According to data from Benzinga Pro, MicroStrategy It has a consensus price target of US$449.50 among 12 analysts, with a maximum of US$690 and a minimum of US$140.
MicroStrategy’s BTC reserves
With over 400,000 bitcoin, MicroStrategy controls approximately 2% of the total Bitcoin supply, calculated at 21 million coins. This BTC volume is almost equivalent to that of BlackRock’s bitcoin ETF, which holds more than 490,000 BTCaccording to data from BitcoinTreasuries.
MicroStrategy’s strategy actually boosted interest in Bitcoin as a reserve asset among other companies from different sectors and countries.
In fact, this company announced a few weeks ago its ambitious plan to acquire $42 billion in BTC, which would take its reserve to more than 800,000 BTC (at current prices). This amount would be close to the treasure accumulated by Satoshi Nakamoto, the creator of Bitcoin, who is estimated to own more than 1 million BTC.
Source: Ambito
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