After Bitcoin crossed $20,000, it became one of the most significant cryptocurrencies in the digital asset market, attracting both individual and institutional investors.
MicroStrategy's Investment Plans
Recent developments show that MicroStrategy intends to raise approximately $1.75 billion through zero percent convertible bonds to purchase more Bitcoin. In a statement dated November 18, 2024, MicroStrategy noted its intention to use the proceeds from this offering to acquire more Bitcoins and for general corporate purposes.
MicroStrategy Stock Price Growth
Since the beginning of this year, MicroStrategy's stock prices have surged significantly, reaching new heights. At the time of writing, the stock was trading at $384.79, up 29% over the past seven days and 94.76% in a month. Recently, MSTR stock has surpassed the 20, 50, 100, and 200-day EMAs, although some experts argue it might be overvalued.
Company's Financial Performance
By the end of 2023, the company's market capitalization was $10.55 billion, a surge of over 647%, reaching $78.90 billion as of writing. In Q2 2024, the firm reported a deeper loss of $0.57 per share compared to the expected $0.09. Analysts anticipate a Q3 loss of $0.12 per share. Revenue also fell short, declining by 8.49%.
MicroStrategy's consistent increase in Bitcoin investments continues to draw market attention, though financial metrics invite discourse among analysts.
