Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Quick Take
Recent market data shows that MicroStrategy continues to outperform both Bitcoin equities and Bitcoin itself. The company’s share price saw a significant surge of 22% on March 25, catapulting it up 40 places to the 280th position among US companies by market cap. This increase brings its market cap to a hefty $31.50 billion, according to Companies Market Cap.
MicroStrategy has exhibited a remarkable performance in the year-to-date analysis, with its value surging by 171%, outpacing Bitcoin’s 55% increase in the same period. Coinbase also demonstrated robust growth, with a commendable 78% rise. In contrast, the WGMI ETF, which serves as a proxy for the Bitcoin mining industry, has shown a modest gain of 6%.
WGMI, COIN, BTCUSD, IBIT, MSTR – YTD Time Frame: (Source: TradingView)
While MicroStrategy’s all-time high share price peaked at $3,300 in 2000, it currently trades at roughly half that figure, around $1,856. However, according to Market Watch, early market indicators show a 4% increase in pre-market trade, making the $2,000 mark well within reach.
Despite the launching of the Bitcoin spot ETFs on Jan. 11, MicroStrategy’s premium value status remains unchallenged. Contrary to market chatter predicting a decline, the company saw a staggering 246% increase, far outpacing the 52% increase of the BlackRock ETF IBIT.
As of March 19, MicroStrategy has accumulated a total of 214,246 BTC, which represents a substantial holding exceeding 1% of the total global supply of Bitcoin.
The post Pre-market trading sees 4% increase, MSTR closing in on the $2,000 threshold appeared first on CryptoSlate.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.