MicroStrategy Stock Has No Top: Max Keiser Makes Mega-Bullish Prediction
In a recent statement, hardcore Bitcoin supporter and advisor to El Salvador president, Max Keiser, expressed his belief that the potential for MicroStrategy’s stock price growth is essentially limitless. Keiser emphasized that even seasoned financiers fail to grasp the successful strategy behind MicroStrategy’s meteoric rise in the stock market.
MicroStrategy recently announced the acquisition of 169 BTC for $11.4 million in June, bringing their total Bitcoin holdings to 226,500 tokens. This move follows a previous purchase made earlier in June, totaling approximately $14.6 billion in fiat at the current exchange rate. Despite a 6.5% drop in MicroStrategy’s share price prior to the company’s second-quarter earnings report, the stock has seen a threefold increase in the past year, mirroring Bitcoin’s own impressive growth.
In light of their continued Bitcoin acquisitions, MicroStrategy plans to raise an additional $2 billion to bolster their cryptocurrency holdings. This comes after the company reported a net loss of nearly $103 million in the second quarter, largely due to an impairment charge on their Bitcoin reserves. CEO Michael Saylor remains optimistic about Bitcoin’s potential, highlighting how it has propelled MicroStrategy past other tech companies in terms of share price performance.
In conclusion, MicroStrategy’s aggressive Bitcoin strategy has garnered attention from investors and analysts alike, with the company’s stock price showing strong resilience in the face of market fluctuations. As the cryptocurrency market continues to evolve, MicroStrategy’s bold approach to Bitcoin investment could have significant implications for both the company and the broader financial landscape.