Microstrategy Soars 185% in 2024, Surpassing Bitcoin Gains

On Tuesday, while bitcoin dropped over 2%, Microstrategy’s stock surged by more than 6%. Since January, Microstrategy’s shares have climbed 185%, far surpassing bitcoin’s 47% gain.

Founded in 1989, Microstrategy provides data-driven decision-making software and began its bitcoin reserve strategy during the 2021 bull run. Despite fluctuations, the stock has risen 495% in the last year.

Its performance is boosted by factors such as leveraged bitcoin exposure and accessibility for traditional finance investors. Similarly, firms like MARA and Japan’s Metaplanet have adopted similar bitcoin strategies, leading to significant stock gains.

Clever Robot News Desk 9^th October 2024