MicroStrategy, a business intelligence company, has seen its stock price surge by over 2,500% since mid-2020, due in part to its large holdings of Bitcoin. The company’s stock has risen 15% intraday, reaching a new high of $498.89 and its market value exceeded $100 billion for the first time. MicroStrategy now holds approximately 331,200 Bitcoins, more than any other publicly listed company, and has around $15.3 billion in funds available for further Bitcoin purchases.
The company’s founder and CEO, Michael Saylor, is a strong believer in Bitcoin and has used leverage to make a huge bet on the cryptocurrency. Saylor has said that Bitcoin is a response to inflation and a new technology with potential for value growth. However, some analysts are concerned about the risks of MicroStrategy’s exposure to Bitcoin, given the volatility of the cryptocurrency market.
