MicroStrategy has managed to take Amazon off the list by trading in record volume. Bloomberg’s senior ETF analyst Eric Balchunas stated that MicroStrategy’s trading volume hit $8 billion, which was the highest trading volume, topping Amazon.
However, MicroStrategy recently surged its offering from $500 million to $525 million. This financial move aligns with MicroStrategy’s responsibility to invest in Bitcoin. The company recently purchased an additional 12,000 Bitcoin for $821.7 million, funded primarily through convertible note sales, bringing its total Bitcoin holdings to approximately 205,000 tokens.
MicroStrategy and other cryptocurrency-related stocks experienced the price action after Bitcoin’s price decreased. While MicroStrategy’s stock has seen a significant increase since it invested in Bitcoin, the market can be highly volatile.
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