MicroStrategy’s share price rose to $341.14, after a rocky 24 hours when share prices tanked 40%. Earlier this week, the firm – the world’s largest corporate holder of bitcoin – announced the acquisition of 2,

MicroStrategy (NASDAQ: MSTR) and KULR Technology (NYSEMKT: KULR) both recently generated a lot of buzz with their big investments in Bitcoin (CRYPTO: BTC). Microstrategy, which started buying Bitcoin in 2020,

MicroStrategy has revealed plans to raise up to $2 billion through public offerings to buy more Bitcoin for its treasury.

Shares of cryptocurrency-focused companies like Coinbase and MicroStrategy jumped Thursday morning ahead of the first trading session of the new year as Bitcoin also rose.

A big reason MicroStrategy ( MSTR -4.40%) was such a hot stock in 2024 is its bullish position on Bitcoin. The company is such a big believer in crypto that it's planning to raise $42 billion in capital during the next three years for the purpose of adding to its tally.

MicroStrategy's share price has faced a prolonged plunge, falling 45% from its November peak as the firm's Bitcoin buys get smaller.

MicroStrategy bought about $209 million of bitcoin in the past week, making it eight weeks in a row that the company has acquired more of the digital currency.

MicroStrategy's Bitcoin purchases 2,138 BTC, worth $209 million, reflecting a continued investment strategy in the growing market.

Bitcoin-buying machine MicroStrategy (NASDAQ:MSTR) is having a tough end to the year. After rallying 464% through the middle of November, the stock has lost 44% of its value. However, MSTR shares are still up nearly fivefold in 2024.

Traders are stepping back from MicroStrategy (MSTR), the Nasdaq-listed company known for its leveraged exposure to Bitcoin (BTC). The shift in market sentiment marks a stark contrast to the once highly bullish outlook surrounding the stock.