MicroStrategy: Between Bitcoin Maximalism and Market Fluctuations

The stock price of MicroStrategy experienced a remarkable increase to USD 341.14 after plummeting 40% within 24 hours. This volatility reflects the company's ongoing Bitcoin purchasing strategy, which recently acquired 2,138 Bitcoin at a price of approximately USD 97,837 each. This investment of around USD 209 million marks the eighth consecutive week in which the company has made significant Bitcoin purchases. With the recent acquisition of Bitcoin, MicroStrategy's total holdings rise to 446,400 Bitcoin, acquired at an average price of approximately USD 62,428 per Bitcoin. The company's total expenditure amounts to about USD 27.9 billion. Furthermore, MicroStrategy secured a place in the prestigious Nasdaq 100 this month, outstanding in its performance as it surpassed both Bitcoin and Nvidia in terms of return. Founded under the leadership of Bitcoin enthusiast Michael Saylor, the company has long advocated for the revolutionary properties of Bitcoin with statements such as: "Bitcoin is the future." Nonetheless, MicroStrategy's aggressive Bitcoin strategy remains controversial. Critics argue that the company appears as a "leveraged vehicle" for Bitcoin, fueling speculation and risks rather than providing shareholders with a solid business model.