The business intelligence firm, which owns over 331,000 BTC (1.58% of Bitcoin’s total supply), briefly surged past $535 per share, setting a new all-time high. However, MSTR quickly dropped 18%, bottoming out at $475, where it had closed the previous day.
Crypto Stocks See Mixed Performance
MicroStrategy wasn’t the only crypto-linked stock facing volatility:
- Bitfarms (BITF): Down 6%, trading at $2.06.
- Canaan (CAN): Fell 3% to $1.62.
- Coinbase (COIN): Dropped nearly 5% to $305.
These fluctuations come amid Bitcoin’s meteoric rise, which has boosted the value of crypto-related equities. Since Donald Trump’s re-election earlier this month, Bitcoin’s price has surged 38%, with crypto stocks like MSTR more than doubling in value.
Bitcoin Nears $100K Milestone
Bitcoin hit $98,310 Thursday morning, setting a new all-time high before dipping slightly to $97,091, per CoinGecko data. Anticipation of Bitcoin crossing the psychological $100,000 barrier appears to have fueled early morning surges in related stocks.
The crypto asset’s historic rally has been bolstered by expectations of favorable regulatory changes under Trump’s administration, signaling closer integration of Bitcoin with the U.S. economy.
As of writing, Bitcoin has hit a new ATH at $98,330!
Sky-High Expectations Fuel Volatility
The whiplash in MSTR’s stock price highlights the immense excitement—and equally high stakes—surrounding crypto assets on Wall Street. Investors are grappling with Bitcoin’s rapid ascent, driving speculative fervor in equities tied to the cryptocurrency market.
With Bitcoin’s milestone in sight, the volatility in both the coin and associated stocks underscores the delicate balance between euphoria and caution in the market.
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