Microstrategy Stock Outperforms Big Tech, Grows 121%

Microstrategy Grows 121% Amid Q3 BTC Buy
  • Bitcoin adoption has helped MicroStrategy grow its fortune.
  • MicroStrategy’s stock has had a 121% increase after buying bitcoins.
  • MicroStrategy is at a $2.55B market cap.

MicroStrategy has made tremendous profits from investing in Bitcoin for much more than a year. As mentioned in a tweet earlier on October 27, MicroStrategy (MSTR) stock has had a 121% increase after buying bitcoins.

In light of this, MicroStrategy said during the third quarter of 2021’s closing meeting that it had acquired an additional 8,957 BTC during this time period. This increased its total bitcoin holdings to 114,042 BTC, which are valued at more than $2.3 billion given current market prices. 

Saylor said:

“To date, MicroStrategy is the public corporation that owns the most Bitcoins with in excess of 114,000 coins. We will carry on to seek out possibilities and increase extra capital to additional invest in Bitcoin. “

He also reaffirmed that the company has no short-term plans to advertise and that its long-term strategy would be to buy more bitcoins. For stockholders, the former CEO also describes it as an “excellent long-term investment.”

Aside from encouraging the company to adopt Bitcoin, Saylor himself also holds his personal bitcoin portfolio. According to a tweet from a year ago, he bought 17,732 BTC at an average price of $ 9,882.

However, that is a normal growth after the BTC buy, according to comments on Saylor’s post. According to a Twitter user, a mid-size stock was and will be easier to have a 121% growth than a Fortune 50 company. 

Specifically, MicroStrategy is at a $2.55 billion market cap. On the other hand, big tech companies are valued at trillions of dollars.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer