MicroStrategy Stock Soars 317% Thanks to $7B Bitcoin Bet, Making Up 86% of Company Value
• MicroStrategy has seen its stock price surge 317% this year, largely thanks to its big bet on Bitcoin starting in mid-2020 - it now holds about 174,530 BTC worth around $7.36 billion • 86% of MicroStrategy's $8.5 billion market cap is tied directly to its Bitcoin holdings • Former CEO Michael Saylor created a way for investors to gain Bitcoin exposure without having to buy it directly • MicroStrategy continues aggressively accumulating more Bitcoin, with its largest 2021 purchase of 16,130 BTC happening in November • Potential approval of Bitcoin spot ETFs could boost BTC price further, which would benefit MicroStrategy though also pose some competition