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MicroStrategy’s stock of Bitcoin rises after its recent purchase and the rise in the value of its shares

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Yesterday, MicroStrategy announced a new investment in Bitcoin, raising the company’s volume of Bitcoin to $ 5.4 billion.

The cloud software company, MicroStrategy – which is arguably one of the main drivers of Bitcoin’s massive surge – said it has pumped $ 15 million of cash into Bitcoin, announcing the purchase of an additional 253 Bitcoin.

Following the announcement, shares of MicroStrategy rose 3.33% soon after the announcement, according to Bloomberg data.

Last week, global financial services company “BTIG” said that “MicroStrategy” is worth investing in because of its position on cryptocurrencies.

Analysts at “BTIG” believe that the price of Bitcoin may reach $ 95,000 by 2022, and according to the same analysts, what is good for Bitcoin is good for “MSTR” (representative of “MicroStrategy”) as the company says.

The “BTIG” analyst stated:

We believe that whoever invests in a stock should do so knowing that their investment is closely linked to the bitcoin price.

Not everyone agrees with this assessment.

Last December, analysts at “Citi” downgraded MSTR’s shares to “selling” based on the same logic of the company’s investment in bitcoin.

Last month, the company’s stock fell nearly 20% in a matter of days after reports that several executives of MicroStrategy sold millions of shares.

Michael Saylor, CEO of MicroStrategy wrote on Twitter that the company now has 91,579 Bitcoins bought for $ 2.226 billion at an average price of $ 24,311 per bitcoin, meaning that the company’s investment rose 144%.

All the while, Saylor is singing and continuing to praise Bitcoin, describing it as an asset and a safe haven, likening it to gold and calling it “digital gold.”

His company, which provides mobile software and cloud-based services to other companies, has continued to purchase bitcoins.

Several other large companies followed Saylor’s advice. Payments firm Square invested $ 220 million in the currency last year, and Elon Musk’s Tesla Motors bought $ 1.5 billion to buy Bitcoin in February.

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