(Bloomberg) -- MicroStrategy Inc., the enterprise-software maker that is the largest publicly-traded holder of Bitcoin, posted a third-quarter loss after...
-- MicroStrategy Inc., the enterprise-software maker that is the largest publicly-traded holder of Bitcoin, posted a third-quarter loss after taking a writedown because of a decline in the value of the cryptocurrency.Markets Rally as Powell Says Fed Has ‘Come Far’: Markets Wrap
Co-founder Michael Saylor has turned the once struggling software company into a Bitcoin proxy for equity investors by accumulating more than $5.5 billion of the cryptocurrency. Saylor gave up his chief executive officer title last year, saying he would focus on the Bitcoin aspect of the company’s dual strategy.
Investors and analysts are beginning to debate whether MicroStrategy’s shares will continue to command a Bitcoin-related premium, given that the US Securities and Exchange Commission seems likely to approve ETFs that invest directly in Bitcoin after a key court loss earlier this year.Since the middle of 2020, MicroStrategy shares have more than tripled as Bitcoin surged in value. The benchmark Standard & Poor’s 500 Index gained about 40% during the same period.
Since the quarter ended, MicroStrategy’s Bitcoin holdings have risen in value by around $1.2 billion, which was about the company’s market capitalization when it started buying crypto in 2020. Are you looking to maximize your TFSA contributions? Here are three top stocks to consider loading up on this year. The post TFSA: 3 Top TSX Stocks for Your $6,500 Contribution appeared first on The Motley Fool Canada.Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.
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