The post MicroStrategy Bitcoin Holdings Now Worth $40B as Bitcoin Hits $103K appeared first on Coinpedia Fintech News
Bitcoin (BTC) price finally pierced through the much-coveted target of $100,000 for the first time since its inception after the 2008 financial crisis. The flagship coin surged more than 7 percent in the past 24 hours to trade above $102,900 on Thursday, December 5, during the early Asian session.
Consequently, more than $644 million was liquidated from the crypto-leveraged market, led by Bitcoin with over $169 million. Furthermore, the previously reported altcoin rally cooled down in the past 24 hours, as Bitcoin dominance surged above 56 percent again.
MicroStrategy Stock Heavily Benefited the Bitcoin Rally
Since the adoption of the Bitcoin strategy in August 2020, MicroStrategy Inc. (NASDAQ: MSTR) has purchased more than 402,100 Bitcoins to date, worth more than $40 billion. Earlier this week, MicroStrategy announced the acquisition of 15.4k Bitcoins, after raising $1.5 billion through stock sales.
As a result of the continued Bitcoin adoption, MSTR shareholders have significantly benefited through value addition. Furthermore, the company has achieved a BTC yield of 38.7 percent quarter-to-date (QTD) and 63.3 percent year-to-date (YTD).
According to the latest market data, MSTR price has rallied more than 542 percent YTD, thus outpacing all of the Wall Street major indexes. In the past 24 hours, MSTR stock surged over 10 percent to trade at about $410.85 during the U.S. after-trading session.
Consequently, the company’s valuation has rallied exponentially in the past months to hover about $83.9 billion at the time of this writing.
Bigger Picture
The notable rise of MicroStrategy over the past years, despite not having a major product in the market, has significantly influenced other companies around the world. The adoption of the strategic Bitcoin reserve has also been discussed at the national level, with the upcoming Trump administration expected to enact a similar law to purchase at least 1 million BTCs over the next five years.
Consequently, Bitcoin price is on a trajectory to higher levels in the coming months amid heightened institutional FOMO and robust fundamentals.
The post MicroStrategy Bitcoin Holdings Now Worth $40B as Bitcoin Hits $103K appeared first on Coinpedia Fintech News
Bitcoin (BTC) price finally pierced through the much-coveted target of $100,000 for the first time since its inception after the 2008 financial crisis. The flagship coin surged more than 7 percent in the past 24 hours to trade above $102,900 on Thursday, December 5, during the early Asian session. Consequently, more than $644 million was … Read MoreNews, Bitcoin
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