Market Capitalization by Almost 200%. The growth in value of Microstrategy’s digital asset holdings comes on the back of another record-breaking start of the year for bitcoin. At the time of writing, BTC is trading at just above $34,000 with nearly 75% dominance of the crypto market.
Meanwhile, following the recent BTC performances, the value of this Nasdaq listed company’s stock has surged from just under $135 recorded on August 11 to $388.55 by close of trading on December 31. This has seen Microstrategy’s market capitalization rising from $1.3 billion to $3.6 billion, representing a growth of approximately 187% in less than 6 months.
In December 2020, News.bitcoin.com reported that Microstrategy had used a total of $1.125 billion to buy the 70,470 coins meaning the firm’s digital asset holdings have now more than doubled in value.
Microstrategy initially bought 21,454 BTC on August 11 before adding another 16,796 on September 14 to complete this first round of buying. Since then, the listed firm subsequently increased its BTC holdings to 70,470 coins. At the time of writing, the listed company’s BTC holdings were valued at nearly $2.4 billion.
Following Microstrategy and Square’s BTC acquisitions, many more public companies now hold bitcoin. For instance, according to the website that tracks companies that have publicly disclosed their BTC holdings, about 29 of such organizations now hold about 1,151,618 coins between them.
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