MicroStrategy (MSTR) Reaches New Record High After 24 Years as Bitcoin (BTC) Hits $87K

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Reflecting on my journey as a seasoned investor who has witnessed tech booms and busts, I find myself awestruck by MicroStrategy’s resilience and transformation. As someone who was around during the dot-com bubble, I remember Michael Saylor’s tumultuous ride all too well. Yet here we are, 24 years later, with a new high that eclipses even the wildest dreams of the late ’90s.

Today, shares of the business intelligence company MicroStrategy (MSTR) reached an all-time peak of $341 following a significant increase of approximately 25% in a single trading day.

After over 24 years, MicroStrategy has hit a new all-time high

— db (@tier10k) November 11, 2024

Meanwhile, Bitcoin has surged above the $87,000 level for the first time, peaking at $87,293. 

The company didn’t reach a new all-time high until 24 years later. MicroStrategy was a star during the dot-com boom at the end of the 90s. Unfortunately, its shares plummeted in 2000 when it had to adjust its earnings reports. At one point, Michael Saylor, then CEO of the successful software firm, reportedly lost up to $6 billion in a single day.

Yet, the business underwent a transformation around 2020. It opted to hold the most prominent cryptocurrency, Bitcoin, as its treasury reserve, effectively transforming itself into a Bitcoin-backed leverage instrument.

Currently, the valuation of our company stands at a staggering $68 billion, making it more valuable than Equinor, Porsche, Royal Caribbean, and Mizuho Financial Group.

Today’s news has me excited! According to U.Today, MicroStrategy just dropped a whopping $2 billion on Bitcoin. That brings their total investment up to a staggering $24.2 billion in this digital currency.

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2024-11-11 23:46