Bitcoin ETF Fever Drives MicroStrategy’s Stock Price Up by 350% in 2023

Key Takeaways

MicroStrategy’s stock has surged by 350% in 2023, primarily due to expectations of a Bitcoin ETF approval;
The company holds a substantial amount of Bitcoin, making its stock akin to a leveraged Bitcoin ETF;
MicroStrategy’s financing strategy includes low-interest debt and share issuance, positioning Bitcoin as a hedge against fiat currency devaluation.

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