MicroStrategy Shares Surge 134% And Outpace Bitcoin in 2024
MicroStrategy’s stock has seen a 132% increase this year, outpacing other companies with BTC exposure, according to research firm Kaiko.
This surge is partly due to a short squeeze and the new spot Bitcoin exchange-traded funds (ETFs) in the US, which offer an easy way to invest in BTC. Tesla and the Block, despite holding BTC, have not seen similar gains, with their stocks down by 10% and 29% year-to-date, respectively.
Other firms, including Metaplanet and Semler Scientific, have added Bitcoin to their balance sheets, with Metaplanet’s shares jumping by 85% post-announcement and Semler Scientific seeing a 10% increase.
The US Financial Accounting Standards Board’s approval of new crypto accounting rules in December 2023 has also increased the attractiveness of Bitcoin as a corporate asset.
(With inputs from Shikha Singh)
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