Is Top Bitcoin Owner MicroStrategy a Buy?

Even an old dog can learn some new tricks. Software firm MicroStrategy (NASDAQ: MSTR) has shifted gears and made purchasing bitcoin (CRYPTO: BTC) one of its primary goals. As of this writing, the company owned approximately 92,079 of the original cryptocurrency, and it just sold more debt to raise cash -- which it plans to use to buy more bitcoin. 

The software company has been stuck in a rut for years, but a soaring crypto market has added new intrigue to the stock. Shares are up over 260% since the start of 2020, going from under-the-radar boring tech stock to blockbuster hit in a short span of time. If bitcoin and decentralized finance (or DeFi, currency not issued or controlled by a central bank) are your bag, MicroStrategy is worth a closer look. 

Image source: Getty Images.

Continue reading

Source Fool.com