MicroStrategy’s (NASDAQ:MSTR) stock reached an all-time high on Tuesday, surging past $1,860 and peaking at $1,909, as reported by Yahoo Finance.
This milestone was achieved following MicroStrategy’s recent acquisition of an additional 9,245 bitcoins on March 19, which brought its total holdings to approximately 214,250 BTC. With this acquisition, the company now controls 1% of Bitcoin’s total supply.
The business intelligence company, now recognized for its substantial bitcoin holdings, saw its stock price soar to $1,909 before settling at $1,863 as of 12:35 p.m. ET, reflecting a 0.49% increase over the past 24 hours. MicroStrategy’s intraday market capitalization stands at $31.67 billion.
The surge in MicroStrategy’s stock price is closely linked to its significant investment in Bitcoin, which has been attracting attention from investors. The company’s decision to increase its bitcoin holdings further solidifies its position as a major player in the cryptocurrency market.
Bitcoin’s price, on the other hand, experienced fluctuations, reaching $69,522.56 at 12:47 p.m. ET on March 26, with a slight decrease of 0.82% over the past 24 hours. Earlier in the day, bitcoin’s price surpassed $71,000, leading to $193 million in liquidations within the same period.
MicroStrategy’s record-breaking stock performance underscores the growing influence of cryptocurrency investments on traditional financial markets, as companies like MicroStrategy continue to allocate significant resources to digital assets like Bitcoin.
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Source: https://cryptocurrencynews.com/microstrategy-stock-hits-all-time-high-surpassing-1860/
