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MicroStrategy (MSTR) Stock Price Surged Over 60% in November
According to the MicroStrategy Incorporated (MSTR) stock chart:
→ At the start of November, the stock price was around $244;
→ Last Friday, it closed just below $395;
→ This represents a more than 60% increase in MSTR’s price over the month, making it one of the top performers on the U.S. stock market;
→ At its peak on 21 November, the stock traded above $520, reflecting a 115% surge in just three weeks.
Two key drivers supported the bullish sentiment:
1. Bitcoin holdings by MicroStrategy.
According to Benzinga, the company owns nearly 2% of the global Bitcoin supply, a figure projected to rise to 4% by 2023. The current surge in BTC/USD towards $100,000 has significantly increased MicroStrategy's value. Co-founder Michael Saylor stated that the company earns an average of $500 million daily from its Bitcoin investments.
2. Market capitalisation milestones.
In November, MicroStrategy's market capitalisation exceeded $100 billion for the first time. On this note, Seeking Alpha highlighted the potential for MicroStrategy's inclusion in the Nasdaq 100 index. This could prompt large funds tracking the index to purchase MSTR shares for their portfolios.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
According to the MicroStrategy Incorporated (MSTR) stock chart:
→ At the start of November, the stock price was around $244;
→ Last Friday, it closed just below $395;
→ This represents a more than 60% increase in MSTR’s price over the month, making it one of the top performers on the U.S. stock market;
→ At its peak on 21 November, the stock traded above $520, reflecting a 115% surge in just three weeks.
Two key drivers supported the bullish sentiment:
1. Bitcoin holdings by MicroStrategy.
According to Benzinga, the company owns nearly 2% of the global Bitcoin supply, a figure projected to rise to 4% by 2023. The current surge in BTC/USD towards $100,000 has significantly increased MicroStrategy's value. Co-founder Michael Saylor stated that the company earns an average of $500 million daily from its Bitcoin investments.
2. Market capitalisation milestones.
In November, MicroStrategy's market capitalisation exceeded $100 billion for the first time. On this note, Seeking Alpha highlighted the potential for MicroStrategy's inclusion in the Nasdaq 100 index. This could prompt large funds tracking the index to purchase MSTR shares for their portfolios.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
