Rising to the top of Reddit’s most-trending stocks list on ApeWisdom.io, MicroStrategy (NASDAQ:MSTR) earned 4,275 upvotes and 542 mentions in the past 24 hours. Reflecting its tight links to the historic ascent of Bitcoin, the stock has jumped over 70% in the past month and an amazing 240% over the last six months. The company’s aggressive Bitcoin acquisition plan has driven its latest stock performance. MicroStrategy paid $5.4 billion for 55,500 Bitcoins between November 18 and 24, 2024 at an average price of $97,862 for each coin.
Inspired by fresh investor optimism and hope for a crypto-friendly legislative approach under President-elect Donald Trump, Bitcoin exceeded the $100,000 mark and this audacious bet followed. For retail and institutional investors looking for exposure to Bitcoin’s advances, MicroStrategy’s stock now takes center stage. The corporation is now a major participant in the digital asset market because of its large Bitcoin holdings and strategic alignment with the expansion of the cryptocurrency. Its latest actions have increased market interest, especially since the crypto industry expects favorable changes in policy under the next government.
This article first appeared on GuruFocus.
