MicroStrategy Inc., the business intelligence company that is now the largest physical holder of Bitcoin, has been ranked as the best performing digital currency stock in 2024, according to The Block.
The company's stock climbed up to 402% on the year, pushing the company's market cap to $83 billion. This continued the trend of MicroStrategy buying more Bitcoin (BTC) in 2024.
according to reports as of December 23, the company currently holds nearly 444,262 BTC, worth more than $45 billion at today's prices. Amazing 120% BTC price rally in 2024 – fueled by market boom like See Bitcoin ETFs agreement, half BTC in April, and geopolitical support of the asset class – played an important role in the holdings of the company.
according to Kingeckothe S&P 500 index won 26%, reflecting a clearly positive macro environment, and BTC price was a bridge for crypto-related stocks, jumping 129%.
Other big gainers in the crypto space included Core Scientific, up 307%, which secured a massive 12-year contract with AI hyperscaler CoreWeave, according to The Block. Terawulf gained 142% on the back of 100% year-over-year growth in its self-mining hashrate capacity to 10.0 EH/s, as of September 30.
Bitdeer Technologies saw a 122% increase as the company's effort to integrate its production mining rigs into its own operations made it one of the most integrated companies among publicly listed BTC miners.
MicroStrategy to acquire more capital stock
MicroStrategy has more said will hold a shareholder meeting in early 2025. Among the main proposals to be voted on at the meeting are an increase in the number of authorized class A common shares and an increase in the number of authorized preferred shares. These developments come as the company implements its 21/21 plan, seeking a total of $42 billion from $21 billion in equity and an additional $21 billion in futures instruments. -in fixed. MicroStrategy believes these recommendations are critical to BTC's presence as a financial company, said chairman Michael Saylor, and may pave the way for further growth.
