MicroStrategy's Bitcoin Bet Pushes Stock to Rare 24-Year Milestone

The stock is on track for a rare milestone, achieving its fourth consecutive day of double-digit percentage gains—a feat last seen in June 2000.

On Thursday, MicroStrategy's shares jumped 12.7% in premarket trading, continuing a rally that has seen the stock skyrocket 56.8% over the past four sessions. The surge coincides with Bitcoin approaching the $100,000 threshold, hitting an all-time intraday high of $98,349 during recent trading. This momentum has pushed MicroStrategy's stock up 134.4% since Donald Trump’s election victory.

Other cryptocurrency-related stocks also enjoyed gains. Marathon Digital (MARA) rose 9.7%, Coinbase (COIN) increased by 2.2%, and Robinhood (HOOD) gained 3.8% in premarket activity. BlackRock’s iShares Bitcoin ETF (IBIT), now approved for options trading on Nasdaq, climbed 3.5%.

The rally is bolstered by Trump’s announcement of plans to nominate crypto-friendly Howard Lutnick as commerce secretary and reports of Trump Media & Technology Group (TMTG) exploring a deal to acquire cryptocurrency platform Bakkt Holdings (BKKT). While Bakkt declined to comment, the speculation has added fuel to the crypto market’s exuberance.

MicroStrategy remains a leader in corporate Bitcoin adoption. This week, the company announced plans to issue $2.6 billion in convertible debt to purchase additional Bitcoin. Earlier, it disclosed spending $4.6 billion to acquire 51,780 Bitcoins, bringing its total holdings to approximately 331,200. The move aligns with the company’s long-term goal of raising $42 billion in capital over the next three years for Bitcoin investments.

Year-to-date, MicroStrategy’s stock has soared an astonishing 745.5%, outpacing Bitcoin’s 132.5% growth and the S&P 500’s 24.1% gain, solidifying its position as a leading cryptocurrency stock.