MicroStrategy’s Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317%

Quick Summary:

It’s understandable given that Bitcoin has become the company’s largest holdings, meaning that as the Bitcoin price rises, so does the valuation of the company, translating to an increase in the stock price.

Despite the already massive Bitcoin holding, accounting for more than 1.166% of the total supply, MicroStrategy plans to continue buying BTC. The company announced it was offering $700 million in convertible notes, which was later amended to $1 billion, the proceeds of which would be used to purchase more BTC.

Related Reading: Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again In only one year, the price surged more than 317% to reach a new all-time high of $192 back in March 2024, according to data from TradingView.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin news Bitcoin price Btc MicroStrategy BTC MicroStrategy stock price Btcusd Bitcoin Microstrategy BTCUSDT MicroStrategy Bitcoin Bitcoin MicroStrategy news Btc price BTC news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 12:30:33 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 502 words

Reading Time: 3 minutes read

Sentences: 68 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22751241

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