This Company Owns 1% of All Bitcoin, but Is It Still a Buy?
With the price of Bitcoin (CRYPTO: BTC) soaring, it's no surprise that companies highly leveraged to the price of the cryptocurrency are also soaring. Case in point: MicroStrategy (NASDAQ: MSTR) is up more than 200% year to date, thanks in large part to its aggressive Bitcoin buying campaign that has ramped up significantly in 2024.
MicroStrategy now owns 214,246 bitcoins, or slightly more than 1% of all Bitcoin that will ever exist. That's a staggeringly large number.
Given that MicroStrategy shows no signs of stopping when it comes to buying even more of the cryptocurrency, it's finally time to ask: Can a company actually own too much Bitcoin to be a good investment?
Source Fool.com