Up 496%, MicroStrategy Stock May Pop By Selling Shares To Buy Bitcoin
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MicroStrategy, a provider of analytical software, has seen its stock soar by 496% in 2024, largely due to its strategy of buying Bitcoin. The company has become a proxy for traders to bet on Bitcoin. Recently, MicroStrategy was added to the Nasdaq 100.
December 17, 2024 | 3:00 pm
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MicroStrategy's stock has increased by 496% in 2024, driven by its strategy of buying Bitcoin. The company's recent addition to the Nasdaq 100 further boosts its profile as a Bitcoin investment proxy.
MicroStrategy's stock price is closely tied to Bitcoin's performance due to its significant Bitcoin holdings. The company's inclusion in the Nasdaq 100 increases its visibility and attractiveness to investors, likely leading to further stock price appreciation.
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