The Latest Breaking News from MicroStrategy

The Chart of the Day belongs to the analytics software company MicroStrategy (MSTR) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart...

Bitcoin was trading in the red zone at $43,950, which means the software and business intelligence company is now sitting on an unrealized profit of $2.390 billion.

The substantial Bitcoin investment by MicroStrategy has yielded a significant return, a growth that began under the leadership of its current executive chairman, Michael Saylor, starting in August 2020.

The price rally of Bitcoin, which started in October, also fueled speculations that it would touch $40,000 or higher by the end of 2023.

The latest BTC acquisition is MicroStrategy's second consecutive BTC purchase in the past couple of months since it acquired 155 BTC for around $5.3 million at the start of November.

Novogratz said the approval of a spot Bitcoin ETF could drive billions to the crypto space.

MicroStrategy is effectively a Bitcoin holding company, and its share price is tied to the performance of Bitcoin. Should you buy MSTR stock at the current valuation?

Microstrategy is sitting on an unrealized profit of $8,155.91 per BTC or $1,291,896,144.

Cryptocurrencies Rise as MicroStrategy Acquires $150 Million Worth of Bitcoin

The cryptocurrency fell below the $25,000 level earlier this week.

Business intelligence firm reported a net income of $22.2 million, compared to a net loss of $1.1 billion in Q2 2022.