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MicroStrategy, the software company founded by Michael Saylor, experienced a rise of over eight percent on Thursday following Bitcoin’s long-anticipated surge past the $100k threshold late Wednesday.
MicroStrategy Rises After Bitcoin Reaches $100k
The Virginia-based firm, which has been acquiring Bitcoin under Saylor’s leadership since 2020, recorded gains exceeding eight percent on Thursday morning.
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At the same time, Bitcoin maintained its upward trajectory on the morning of December 5, approaching nearly $103,500.
Year to date, $MSTR treasury operations have yielded a BTC Yield of 63.3%, resulting in a net gain of approximately 119,800 BTC for our shareholders. At $103K per BTC, this translates to $12.3 billion for the year thus far, establishing us as the most profitable and fastest-growing company on the #Bitcoin Standard.
— Michael Saylor
(@saylor) December 5, 2024
This latest increase in Bitcoin’s value has propelled the company’s stock up nearly 600% this year, significantly outperforming the S&P 500.
During a CNBC interview earlier this month, Saylor mentioned that he was “planning the $100,000 party” for when the cryptocurrency achieves this significant psychological milestone.
On December 4, Saylor confirmed in a post on X that the celebration would indeed take place.
What Growth Can Be Expected for Michael Saylor’s Bitcoin Holdings?
MicroStrategy has performed exceptionally well in light of Bitcoin’s price surge following President-elect Donald Trump’s election in November.
Market sentiment has been largely enhanced by Trump’s anticipated return to the Oval Office, with expectations that the former reality television personality will implement regulations favorable to digital assets.
“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,” Trump remarked while addressing attendees at the Bitcoin 2024 Conference this past summer.
In a December 5 post on his social media platform Truth Social, the New York-born businessman did not hesitate to take credit for the cryptocurrency’s achievements.
CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!
Donald Trump Truth Social 07:55 AM EST 12/05/24 @realDonaldTrump— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) December 5, 2024
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME,” he stated. “Together, we will Make America Great Again!”
The incoming President is anticipated to revamp the current leadership of the United States Securities and Exchange Commission (SEC), specifically targeting Gary Gensler, whom he has previously criticized for his enforcement-based regulatory approach to the blockchain sector.
Recent reports also suggest that Trump may transfer regulatory authority over digital assets from the SEC to the CFTC, representing a significant departure from President Joe Biden’s approach to crypto regulations.
With just over a month remaining until the inauguration, it remains uncertain how much Bitcoin’s value and MicroStrategy’s stock will increase.
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