MicroStrategy (NASDAQ: MSTR), a globally recognized data analytics company and the largest corporate holder of Bitcoin, has increased its Bitcoin holdings to over $4.8 billion. This move comes despite a 30% drop in the company’s stock price amid the current downturn in cryptocurrency markets, known as the crypto winter.
The firm, known for its products like MicroStrategy AI and services for clients such as Pfizer (NYSE:PFE), Sony (NYSE:SONY), Visa (NYSE:V), and Hilton, has made it clear that it has no plans to sell its Bitcoin assets in the near future. Since it began accumulating Bitcoin in 2020, MicroStrategy’s stock performance has been positive overall.
The cryptocurrency market has shown resilience during challenging times such as the Covid-19 pandemic, the FTX collapse, and periods of high interest rates. Bitcoin reached its highest level in two decades during these turbulent periods.
Looking ahead, events such as the upcoming Bitcoin halving in April and an expected decrease in interest rates by 2024 could further boost both Bitcoin and MSTR prices.
