“MicroStrategy’s bitcoin bet produces over 300% gain for investors in 2023”
January 2, 2024
“…in 2023, the stock has soared 337%, making it one of the biggest gainers in the U.S. among companies valued at $5 billion or more, topping Nvidia’s 234% rally and Meta’s 194% surge.
Unlike its tech peers, which rely on revenue growth and market share gains to fuel their stock prices, MicroStrategy’s investor appeal is almost exclusively due to bitcoin. The company began buying the cryptocurrency in mid-2020 and has since amassed roughly 174,530 bitcoins, worth about $7.65 billion as of late Friday…”