CandleFocus

Bitcoin Boosts MicroStrategy (MSTR) to Higher Trading Volume Than Tesla and Nvidia

MicroStrategy (MSTR) has surpassed a $100 billion market cap, making it the 93rd largest publicly-traded company in the U.S. It has also done more trading volume than Tesla and Nvidia, causing excitement among stock traders. MicroStrategy was a much smaller company when it first bought bitcoin for its treasury about four and a half years ago, and now its success has raised questions about how high it may go and how hard it will crash in the next bear market. However, the success of MicroStrategy's bitcoin strategy has shown that institutional adoption is growing and more companies are likely to add bitcoin to their balance sheets. This could lead to an explosion in the number of publicly-traded companies adopting this strategy and potentially increase trading volume for these companies. Putting bitcoin on the balance sheet can create volatility and opportunities for stock traders, making it a logical choice for publicly-traded companies.

Related News