Michael Saylor's Strategy Just Unveiled a New Bitcoin Banking Index. Here's What That Signals for MSTR Stock.
The largest Bitcoin holder is establishing a new standard in the industry.
Overview
Strategy (NASDAQ: MSTR) is the largest single holder of Bitcoin on the planet. It holds almost 844,000 units of the top cryptocurrency on its balance sheet.
This has worked out well at certain times. At Bitcoin's peak last October, Strategy shares had rocketed 2,300% higher over the prior five years. But since the digital asset is currently in a bear market, Strategy's stock trades 79% below its record.
Details
Despite the disappointing price action, the business continues to advance its efforts to integrate the leading cryptocurrency into the traditional financial services industry, further legitimizing the digital asset.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.