Summary
- Bitcoin reclaimed $98,000, leading to a more than 13% surge in MicroStrategy's stock price.
- MicroStrategy recently announced an investment of $290 million to acquire an additional 2,138 Bitcoins.
- MicroStrategy, holding more than 2% of all Bitcoin, now possesses a total of 446,400 Bitcoins.
As Bitcoin reclaimed the $98,000 mark, MicroStrategy, the world's largest holder of Bitcoin, surged more than 13%.
On the 3rd (local time) at the New York Stock Exchange, MicroStrategy closed at $339.66, up 13.22% from the previous trading day. This is attributed to Bitcoin surpassing $98,000 and a simultaneous rally in cryptocurrencies.
As of 8 a.m. on the 4th, Bitcoin is trading at $98,488, up 1.79% from 24 hours ago, according to CoinMarketCap, a global cryptocurrency market tracking site. This is the first time Bitcoin has reclaimed the $98,000 level since the 20th of last month.
MicroStrategy has been accumulating Bitcoin for the past eight consecutive weeks, now holding over 440,000 Bitcoins. Last week, MicroStrategy invested $290 million to acquire an additional 2,138 Bitcoins, bringing its total holdings to 446,400 Bitcoins.
This accounts for more than 2% of the currently traded Bitcoins, which total 19.8 million.
Reporter Goh Jung-sam, Hankyung.com jsk@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
