Big Crypto Player's Bitcoin Bet is Paying Off As Stock Soars.
MicroStrategy's bet on Bitcoin is paying off handsomely as the big crypto player's stock soared 4% on Monday.
MicroStrategy announced that it had completed an offering of senior convertible notes and used net proceeds of about $782 million to buy more Bitcoins.
MicroStrategy is essentially a proxy for direct BTC investment without a spot Bitcoin exchange-traded fund (ETF) in the United States. It holds 205000 BTC so far, the most by a publicly traded company as a part of its treasury strategy.
MicroStrategy's stock was up roughly 135% year-to-date. It mirrored Bitcoin's 70% YTD gains, maintaining a strong positive correlation with the top cryptocurrency.
Here are the top 12 companies with largest Bitcoin holdings below:
