With a startling 442% increase, MicroStrategy (MSTR, Financial) has become one of the best-performing companies for the year. Investors who invested $10,000 in its stock at start of 2024 would see their investment increase to $54,200 today, highlighting the company's incredible turnabout and strategic reorientation.
Two key causes are driving MicroStrategy's significant stock increase. First, given the value of Bitcoin (BTC) skyrocketed to over $107,000, its massive holdings in the asset ballooned in the process . Originally starting its
aggressive Bitcoin acquisition campaign in 2020, MicroStrategy today has the biggest corporate portfolio of digital assets.
Second, MicroStrategy's impending Nasdaq-100 Index membership announcement was another major lift for the stock. The achievement emphasizes the company's growing market share and should draw more institutional investment, improving the stock's performance.
MicroStrategy's explosive climb shows the potential—and volatility—of cryptocurrency-driven corporate strategies as it enjoys the benefits of its high-risk Bitcoin approach and more market acceptance.