MicroStrategy's Stock Surges 477% in 2024, Boosted by Bitcoin Holdings and Trump's Election

Dec 23, 2024, 04:33 PM

MicroStrategy Inc. has seen its stock surge by 477% in 2024, making it one of the top-performing stocks among U.S. tech companies valued at $5 billion or more. This rally has been attributed to the company's aggressive acquisition of Bitcoin, with MicroStrategy now holding 439,000 bitcoins, valued at approximately $42 billion. The stock's performance has been further boosted by Donald Trump's election victory, which has been favorable to the cryptocurrency industry. Since the election, MicroStrategy's shares have climbed an additional 60%, surpassing their dot-com era peak from 2000. The company's strategy, led by CEO Michael Saylor, involves converting cash into Bitcoin, a move that has been criticized by some as a 'ponzi loop' but has nonetheless driven significant stock value growth. MicroStrategy's market cap has reached $82 billion, and its gains this year have been reported as high as 450%, marking it as the second-highest gain among its peers.