Bitcoin (BTC) has finally broken past the $100,000 mark, reaching this milestone for the first time since its creation after the 2008 financial crisis. The leading cryptocurrency surged over 7% in the past 24 hours, trading at $102,900 early Thursday, December 5, during the Asian session.
This record-breaking surge triggered significant movements in the crypto market. More than $644 million was liquidated from leveraged positions, with Bitcoin accounting for $169 million. At the same time, the recent altcoin rally slowed as Bitcoin’s dominance in the market climbed above 56%.
MicroStrategy Inc. (NASDAQ: MSTR) has been at the forefront of institutional Bitcoin adoption since 2020. To date, the company has purchased 402,100 BTC, valued at over $40 billion. Earlier this week, it added 15,400 BTC to its holdings after raising $1.5 billion through stock sales.
This aggressive Bitcoin strategy has significantly benefited MicroStrategy’s shareholders. The company has achieved a 38.7% return on its Bitcoin holdings quarter-to-date (QTD) and an impressive 63.3% year-to-date (YTD).
MicroStrategy Stock Soars
MicroStrategy’s stock (MSTR) has surged over 542% this year, outperforming every major Wall Street index. In just the past 24 hours, its share price rose by more than 10%, reaching $410.85 in after-hours trading.
The company’s market valuation has skyrocketed to approximately $83.9 billion at the time of writing.
MicroStrategy’s success, despite not offering a traditional product, has inspired other companies worldwide to explore similar strategies. Its approach of holding Bitcoin as a reserve asset has even sparked discussions at the national level. Reports suggest that the incoming Trump administration may consider legislation to purchase 1 million BTC over the next five years.
Analysts believe heightened institutional demand and favorable market conditions could push Bitcoin’s price even higher in the months ahead. We think they’re right!
Bitcoin’s price trajectory remains bullish with institutional adoption, and MicroStrategy’s valuation benefits from its strategic BTC holdings
MicroStrategy owns 402,100+ BTC, valued at over $40 billion, making it the largest publicly traded Bitcoin holder globally.
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