2024-2-27 18:33 |
Michael Saylor’s MicroStrategy has acquired more Bitcoin as the cryptocurrency jumped from around $41,000 at February’s beginning to over $50,000 as it draws to a close.
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Jim Cramer, the outspoken host of CNBC’s Mad Money, has caused a stir in the financial sector by endorsing Bitcoin (BTC) over MicroStrategy stock (MSTR). This recommendation follows despite MSTR’s notable year-to-date performance of 85%, compared to Bitcoin’s 125% gain.
For the fourth year in a row, MicroStrategy Executive Chairman Michael Saylor shared his company’s Bitcoin playbook with Bitcoin-curious Fortune 1000 firms.
MicroStrategy’s chairman, Michael Saylor, revealed the firm’s ambitious plan to introduce a decentralized identity solution called MicroStrategy Orange on the Bitcoin network during his Bitcoin For Corporations talk on May 1.
MicroStrategy stock was down 10% on Tuesday, while Coinbase and other crypto stocks also dumped. Bitcoin price traded to lows of $60,600 before seeing a slight recovery. MicroStrategy, Coinbase, Riot Platforms and Marathon Digital stocks are among crypto-related stocks seeing downside pressure amid Bitcoin’s price struggles.
MicroStrategy’s Bitcoin holdings increased by 122 BTC in April, according to the company’s latest quarterly report. MicroStrategy, the largest Bitcoin holder among public companies, keeps buying more BTC, as its latest quarterly report indicates the company injected another $7.8 million,…