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MicroStrategy’s stock (MSTR) has surged approximately 30%, reaching a new all-time high above $351 over the past five days. This significant increase is closely linked to the company’s recent substantial Bitcoin acquisition and the cryptocurrency’s own price surge. 
At the time of writing, the stock price of MicroStrategy has reached $345.98.&nbsp; The company has a market capitalization of approximately $70.26 billion, with about 202.64 million shares outstanding.&nbsp; The average daily trading volume over the past 30 days is 20.47 million shares.&nbsp; 
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 MSTR Stock Soars 30%, Source: <a href="https://www.google.com/finance/quote/MSTR%3ANASDAQ" target="_blank" data-type="link" data-id="https://www.google.com/finance/quote/MSTR%3ANASDAQ" rel="noreferrer noopener nofollow">Google</a>
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Between October 31 and November 10, 2024, MicroStrategy <a href="https://www.cryptotimes.io/2024/11/11/microstrategy-buys-2b-more-in-bitcoin-at-74463-per-coin/" target="_blank" rel="noreferrer noopener">purchased 27,200 Bitcoins for about $2 billion</a>, bringing its total holdings to 279,420 BTC, valued at approximately $24.3 billion.&nbsp; 
Bitcoin’s price has recently <a href="https://www.cryptotimes.io/2024/11/12/bitcoin-hits-new-ath-of-89517-surpasses-silver-market-cap/" target="_blank" rel="noreferrer noopener">reached new highs, surpassing $89,000</a>. This rally has positively impacted companies with significant Bitcoin holdings, like MicroStrategy. 
MicroStrategy announced a three-year plan to invest $42 billion in Bitcoin through capital raises, reinforcing its commitment to Bitcoin as a treasury reserve asset. 
MicroStrategy President and CEO Phong Le stated last month, “Our focus remains to increase the value generated to our shareholders by leveraging the digital transformation of capital. As a Bitcoin treasury company, we plan to use the additional capital to buy more Bitcoin as a treasury reserve asset.” 
MicroStrategy’s premium to net asset value has <a href="https://www.mstr-tracker.com/" target="_blank" rel="noreferrer noopener nofollow">reached</a> a historic 2.8x, underscoring its position as a favored Bitcoin proxy even as Bitcoin ETFs attract inflows. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/10/18/microstrategys-bitcoin-strategy-could-outdo-ftxs-harm-lingham/" target="_blank" rel="noreferrer noopener">MicroStrategy’s Bitcoin Strategy Could Outdo FTX’s Harm: Lingham</a> 
</blockquote>

MSTR Stock Soars 30%, Reaching New High After Bitcoin Boost

The Crypto Times

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