#Bitcoin Whale Moves#

The Strategy stocks reached a new high due to a huge reserve of bitcoins.
At the close of trading on Wednesday, MSTR shares on the Nasdaq reached a price of $455.90, increasing by more than 3% during the session. Over the last five trading days, MSTR shares have risen by 5.89%, and the monthly gain has exceeded 17%. The cumulative figures indicate an impressive growth of 3699% since the company's initial public offering (IPO).
Strategy, originally known as Microstrategy Inc. before rebranding, went public on the Nasdaq on June 11, 1998, at a price of $12 per share. During the tech and internet boom in 2000, the price of MSTR soared to $139 per share, but after 2001, it fell below $1. Over the next 19 years, the price of MSTR struggled to rise above $20 and often traded below the initial price of $12.
In 2013, the company's founder Michael Saylor was widely known as a skeptic regarding Bitcoin, comparing it to gambling and predicting its failure. "Bitcoin's days are numbered," Saylor wrote at the time on X. "It seems like only a matter of time before it suffers like internet gambling." On that day, MSTR shares closed on Nasdaq at a price of $12.42 per share.
Seven years after this tweet, Saylor and his company adopted Bitcoin, later stating that he "forgot" he ever made such a remark. In August 2020, the company purchased 21,454 BTC for approximately $250 million. Since then, it has consistently increased its holdings through dollar-cost averaging and now owns 601,550 BTC, valued at $71.4 billion.
Strategy bought bitcoin for 43.324 billion dollars, leading to a gain of more than 28 billion dollars. Due to such large-scale accumulation of bitcoins, investors see MSTR as a leveraged bitcoin substitute. When BTC rises, MSTR often outperforms it due to its assets and the premium to net asset value (NAV), which is regularly accrued on shares.