Shares of technology company MicroStrategy attracted attention by reaching their highest level in nearly two years. It is stated that Bitcoin (BTC) is effective behind the rise in the company's share price. It is stated that the recent rally in BTC has encouraged investors.
Shares of the company, known as the institutional Bitcoin vault, exceeded the $ 500 level for the first time since December 2021 and rose to $ 524. The company's market value reached $7.33 billion. MicroStrategy's shares have doubled in a month and gained 258 percent since the beginning of the year, according to the latest data.
The company is known for its long-term Bitcoin strategy. MicroStrategy's founder, Michael Saylor, announced in August 2020 that they started buying Bitcoin as a hedge against inflation.
The company, which started making profits from Bitcoin assets in April, last made purchases in June. The assets of the company, which has a total of 152 thousand 333 BTC, are worth over 4 billion dollars. The average of MicroStrategy's total BTC purchases was calculated as 29 thousand 668 dollars. The company holds approximately 0.75 percent of the circulating Bitcoin supply.
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