🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

MicroStrategy Joins MSCI: Crypto Goes Mainstream 

Published 05/15/2024, 04:46 PM
Updated 05/15/2024, 05:15 PM
MicroStrategy Joins MSCI: Crypto Goes Mainstream 
MSTR
-
MIWD00000PUS
-
BTC/USD
-

  • MicroStrategy joins MSCI World Stock Index, highlighting crypto’s role
  • MSTR stock outperforms Bitcoin rally, seen as a Bitcoin proxy
  • Analyst sentiment positive on MSTR despite recent pullback

MicroStrategy, the company famous for its massive Bitcoin holdings has been added to the MSCI World Stock Index. This move reflects the increasing acceptance of cryptocurrency in the traditional investment portfolios.

MicroStrategy’s strong Bitcoin advocacy is well-known. The company grabbed headlines during the pandemic by using a large portion of its cash reserves to buy Bitcoin. They currently hold 214,400 BTC at an average purchase price of $35,180 per bitcoin.

This inclusion comes amidst a stellar year for MicroStrategy stock (MSTR). Its price has quadrupled compared to last year, even outperforming the impressive Bitcoin rally by a significant margin. Earlier this year, when Bitcoin reached its peak, MSTR stock also surged to new highs. However, a recent market correction caused a pullback, leading to a price decrease of over 30% for MSTR.

Many investors viewed MicroStrategy stock as an indirect way to hold Bitcoin especially before the launch of spot …

The post MicroStrategy Joins MSCI: Crypto Goes Mainstream appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.