MicroStrategy’s MSTR and ETFs Surpass Entire UK Stock Market’s Trading Volumes

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As a seasoned crypto investor with a penchant for spotting trends and making calculated moves, I can confidently say that MicroStrategy (MSTR) is undeniably ruling Wall Street right now. With my years of experience in this dynamic market, I’ve seen countless companies rise and fall, but none have shown the meteoric growth that MSTR has displayed since its Bitcoin acquisitions.

Yesterday, MicroStrategy’s stock (MSTR) experienced unprecedented trading activity, closing the day with a 10.05% increase and reaching an all-time high of $474. Moreover, Exchange-Traded Funds tied to MSTR have seen significant trading volumes, significantly influencing the market activity in the Bitcoin industrial complex. In fact, on Wall Street, only Nvidia was more actively traded than MSTR.

MicroStrategy’s MSTR Is Ruling Wall Street

On a remarkable day, the Bitcoin Industry reached an impressive feat, handling a staggering $50 billion worth of trades. To put this into perspective, it’s comparable to the average daily trading volume of the entire UK stock market, as noted by Bloomberg ETF strategist Eric Balchunas.

Initially, MicroStrategy (MSTR) spearheaded the significant increase in trading activity with a notable $32 billion worth of transactions. Concurrently, the MicroStrategy spot Exchange-Traded Funds (ETFs), namely T-Rex 2X Long MSTR Daily Target ETF (MSTU) and Defiance’s 2X long ETF (MSTX), jointly contributed around $6 billion. This combined trading volume surpassed the total volume of all spot Bitcoin ETFs put together.

Over the past few weeks since its mid-September debut, the MSTU share value has experienced a remarkable increase of approximately 906%, with the MSTX shares seeing a rise of 743%. Meanwhile, the MSTR stock has also shown significant growth, amounting to a 591% increase this year so far.

On Wednesday, MSTR was the second-busiest stock on Wall Street, trailing only NVDA. This surge in trading activity was fueled by increased market curiosity following its recent purchases of Bitcoin. Additionally, it surpassed every other stock within the “Magnificent 7” group, which includes heavyweights like Apple (AAPL) and Tesla (TSLA).

Bitcoin Buying Activity Supports The Mega Show

This past week, MicroStrategy announced that they had bought around 51,780 Bitcoins at a total cost of about $4.6 billion. This is one of their biggest Bitcoin acquisitions so far.

Currently, the company owns approximately 331,200 Bitcoins, which were acquired for around $16.5 billion in total. Given today’s market prices, that Bitcoin hoard is worth over $31 billion. Nevertheless, the company’s value has surpassed $96 billion, providing shareholders with a substantial premium.

Speaking on this development, Bitcoin critic Peter Schiff wrote:

“As the value of MSTR stocks increases, Michael Saylor has the opportunity to sell more shares. With each additional share sold, he can purchase more Bitcoins. The accumulation of these Bitcoins tends to boost their price. When Bitcoin’s price rises, so does the stock price of MSTR, particularly significantly. At what point will this cycle stop?

Highlighting the significant disparity between his Bitcoin holdings compared to its market value, certain figures within the cryptocurrency sector have voiced their concerns about the exaggerated enthusiasm surrounding it.

$MSTR is slightly getting hyped compared to its #Bitcoin holdings.

— Ki Young Ju (@ki_young_ju) November 21, 2024

This afternoon, Bitcoin’s price reached a record peak of $97,500 and enthusiasts are hopeful for a rise to $100,000. Some experts believe that this upward trend in Bitcoin’s value might persist, potentially reaching as high as $135,000.

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2024-11-21 13:24