As a seasoned crypto investor with a knack for spotting opportunities that others might overlook, I can’t help but feel a sense of validation seeing MicroStrategy’s stellar performance in 2024. I remember back in 2020 when they first dipped their toes into Bitcoin, many scoffed at the idea of a business intelligence company becoming a major player in the crypto space. But here we are, with MicroStrategy leading the charge and setting new standards for corporate adoption of digital assets.
In a notable turn of events, MicroStrategy Inc., the leading corporation in the business intelligence sector and currently the largest corporate owner of Bitcoin, emerged as the top-performing crypto stock in 2024, as recognized by The Block.
2024 saw MicroStrategy’s stock soar an impressive 402% annually, boosting the company’s total market value to a staggering $83 billion. This surge in shares follows the company’s ongoing practice of purchasing more Bitcoin (BTC) throughout the year.
As an analyst, I’ve recently gathered data indicating that our company currently holds approximately 444,262 Bitcoins. Given today’s prices, this equates to over $45 billion. The remarkable 120% price surge of Bitcoin in the year 2024, fueled by factors like the approval of a spot Bitcoin ETF, April’s BTC halving, and positive geopolitical sentiments towards cryptocurrencies, significantly contributed to our current holdings.
Based on information from CoinGecko, the S&P 500 index experienced a significant increase of approximately 26%, indicating a robust and favorable overall economic climate. Moreover, Bitcoin’s price surge by 129% provided a boost to stocks tied to cryptocurrencies.
In the world of cryptocurrencies, Core Scientific and Terawulf stood out for notable increases. Core Scientific saw a massive jump of 307% following the announcement of a 12-year deal with AI hyperscaler CoreWeave, as reported by The Block. On the other hand, Terawulf experienced a 142% growth due to a 100% yearly expansion in its self-mining hashrate capacity to 10.0 EH/s, as of September 30th.
Bitdeer Technologies witnessed an impressive 122% surge in performance, largely due to their efforts in integrating their manufactured mining equipment into their own business operations. This move has positioned them as one of the leading vertically integrated companies within the public Bitcoin mining sector.
MicroStrategy to accquire more capital stock
According to their announcement, MicroStrategy plans to convene a shareholders meeting around early 2025. During this meeting, important decisions will be made, such as expanding the number of authorized Class A common shares and increasing the number of authorized preferred shares. This strategic move is part of MicroStrategy’s 21/21 plan, which aims to secure $42 billion – half from equity ($21 billion) and the other half from fixed-income instruments. Chairman Michael Saylor believes these proposals are essential for MicroStrategy’s expansion as a Bitcoin treasury company and could potentially pave the way for more growth in this area.
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2024-12-25 18:26