Assets, Bitcoin

Is MicroStrategy a Bitcoin Stock?

MicroStrategy Inc. is a publicly traded business intelligence, mobile software, and cloud-based services company headquartered in Tysons Corner, Virginia, United States.

The company provides software platforms for companies to analyze internal and external data. MicroStrategy is a member of the Russell 3000 Index and is traded on the NAsdaQ under the ticker MSTR.

In September 2020, MicroStrategy announced it would purchase $250 million in bitcoin as part of its capital allocation strategy. The company now holds more than 71,079 bitcoins, which were purchased for an average price of about $15,000 per bitcoin.

NOTE: WARNING: Investing in Bitcoins or other cryptocurrencies, such as MicroStrategy, is considered to be extremely high-risk. Before investing, please make sure that you understand the risks involved and the potential rewards. Investing in Bitcoin or other cryptocurrencies may not be suitable for all investors, so please research thoroughly and always consult with a qualified financial adviser before making any investment decisions.

At the time of writing this article, MicroStrategy’s stock price was $425.95 per share, up from $256.

09 per share at the beginning of September 2020. This means that the company’s stock has increased by about 67% since it announced its bitcoin purchase. .

Based on the stock price increase and the amount of bitcoins that MicroStrategy has purchased, it appears that investors believe that the company’s bet on bitcoin will pay off. Only time will tell if this turns out to be true, but for now, it seems that MicroStrategy is a bitcoin stock.

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