MicroStrategy, the world’s largest corporate holder of Bitcoin, continues to make waves in both the Bitcoin and stock markets. On Friday, the company’s share price rebounded to $341.14, recovering from a dramatic 40% drop earlier in the week. The rebound followed the company’s announcement of a $209 million Bitcoin purchase, acquiring 2,138 BTC at an average price of $97,837 per Bitcoin.

This acquisition marks the eighth consecutive week of Bitcoin purchases by MicroStrategy, bringing its total holdings to 446,400 BTC. The firm has spent approximately $27.9 billion on these assets, with an average cost of $62,428 per Bitcoin. Despite the high cost of acquisition, the company remains bullish on Bitcoin as a cornerstone of its corporate strategy.

MicroStrategy’s stock has seen significant volatility in recent weeks. While the company’s aggressive Bitcoin strategy has drawn criticism from some experts, who describe it as “a leveraged vehicle for holding Bitcoin in the guise of a software company,” retail investors appear increasingly optimistic. Retail sentiment on platforms like Stocktwits turned bullish on Friday, with many expressing confidence in the company’s long-term vision.

This renewed enthusiasm coincided with Bitcoin’s own price surge to $98,577, up 1.5% in the past 24 hours. Analysts suggest that the positive market sentiment toward Bitcoin directly influences MicroStrategy’s stock performance, given its reputation as a proxy for Bitcoin investment.

Adding to the excitement, MicroStrategy’s executive chairman, Michael Saylor, posted a photo on social media of his meeting with Eric Trump at Mar-a-Lago. The meeting, where Bitcoin was reportedly a topic of discussion, has fueled speculation about potential Bitcoin-friendly policies from the incoming Trump administration. Saylor has previously expressed his willingness to advise the administration on Bitcoin policy.

While details of the meeting remain undisclosed, Saylor’s alignment with pro-Bitcoin sentiment and his public endorsement of Bitcoin’s role in economic innovation have bolstered investor confidence. “Bitcoin fixes things. Bitcoin can help everybody,” Saylor stated at last year’s Bitcoin 2023 conference, underscoring his unwavering support for the digital asset.

MicroStrategy’s latest Bitcoin purchase and its association with high-profile figures like Eric Trump highlight the company’s commitment to driving Bitcoin adoption at both corporate and national levels. The company’s inclusion in the Nasdaq 100 earlier this month further cements its standing as a major player in the tech and Bitcoinindustries. Over the past year, MicroStrategy’s stock price has surged more than 430%, outpacing the performance of both Bitcoin and other tech giants like Nvidia.

MSN Article