MicroStrategy Inc., the business intelligence firm that is now the largest corporate holder of Bitcoin, has been ranked the best-performing cryptocurrency stock of 2024, according to The Block.
The company’s shares rose as much as 402% for the year, increasing the company’s market capitalization to $83 billion. This continued the trend of MicroStrategy buying more Bitcoin (BTC) in 2024.
According to reports on December 23, the company currently owns almost 444,262 BTC, which is worth over $45 billion at today’s prices. BTC’s phenomenal 120% price increase in 2024 – spurred by market boosters such as the spot approval of a Bitcoin ETF, the April BTC halving, and geopolitical endorsements of the asset class – played a major role in the company’s holdings.
According to Coingecko, the S&P 500 index gained 26%, reflecting a clearly positive macroeconomic environment, and the price of BTC provided a tailwind for crypto-related stocks with a 129% increase.
Other big winners in the crypto space included Core Scientific, up 307%, which landed a significant 12-year deal with AI hyperscaler CoreWeave, according to The Block. Terawulf gained 142% on September 30 as its self-mining hashrate capacity grew 100% year-on-year to 10.0 EH/s.
Bitdeer Technologies saw a 122% increase as the company’s push to integrate the mining rigs it produces into its own operations made it one of the most vertically integrated companies among publicly traded BTC miners.
MicroStrategy wants to acquire more capital
MicroStrategy has also said it will hold a shareholder meeting in early 2025. Important suggestions…
