MicroStrategy Shares Print Highest Record Reaches IDR 3.7 Million

MicroStrategy shares set a record high of IDR 3.7 million (Photo; Doc. Aipilot)

JAKARTA - In the midst of the resurgence of the price of Bitcoin which shot past US$67,000 (Rp1.05 billion), the name MicroStrategy has returned to the public spotlight. The company, led by Michael Saylor, is not only known as the largest Bitcoin holder in the world, but has also managed to record its highest share price in the last 25 years.

Based on data from TradingView, MicroStrategy (MSTR) shares reached 235.89 US Dollars (Rp3.7 million) in trading sessions last Thursday, with an increase of more than 7% in one day. This increase comes ahead of scheduled third-quarter earnings reports.

This stable growth shows how MicroStrategy, which initially engaged in software development for data analysis, has transformed into a major force in the crypto world. Since starting investing in Bitcoin as a reserve asset in 2020, MicroStrategy's shares have surpassed many of its competitors in the S&P 500 index, even beating Microsoft's stock growth since 1999.

Currently, MicroStrategy holds 252,222 BTC, making it the largest Bitcoin corporate holder in the world. With the current Bitcoin price of 67,392 US Dollars (Rp1.06 billion), the value of assets owned by MicroStrategy exceeds 17 billion US Dollars (Rp267 trillion). The success of the company in this Bitcoin investment strategy has attracted the attention of many analysts, with some predicting that the next target for this stock is 245 US Dollars (Rp3.8 million).

Since its business focus change, MicroStrategy has managed to raise funds of 4.25 billion US Dollars (Rp66.8 trillion) from its equity offerings, which are used to increase Bitcoin holdings. This shows that even though these companies focus on crypto assets, they are still running a solid business model to support their investment strategy.

However, MicroStrategy's aggressive strategy is also inseparable from criticism. Many market observers have questioned the company's resilience in dealing with high volatility in the crypto market. Although Michael Saylor continues to strive to accumulate Bitcoin, the company is also expanding its supply of conversion bonds to raise more funds. However, most of these bonds will not mature until 2032, raising questions about the company's survival as the market declines.

Despite valid criticism of the company's dependence on Bitcoin, Saylor remains firm in its stance and continues to double its BTC investment. In a post on social media, Saylor even challenged Microsoft CEO Satya Nadella to join efforts to create trillions of dollars in value for Microsoft's shareholders.