MicroStrategy has drawn comparisons to meme stocks as it heavily invested in bitcoin, seeing a 358% rise in 2024 despite a 25% decline in December. Michael Saylor, the company’s co-founder and a bitcoin advocate, has utilized social media to promote the company’s aggressive bitcoin-buying strategy, amassing 446,400 bitcoins. Analysts acknowledge concerns over bitcoin’s volatility but note that MicroStrategy has withstood past downturns. The company’s strategy has shifted from defensive to offensive, raising billions to acquire more bitcoin. Predictions suggest that institutional adoption could push bitcoin prices as high as $225,000 this year, influencing MicroStrategy’s continued investments.
