MicroStrategy (MSTR) stock has made waves on Wall Street, closing at a record high of $474 with a daily trading volume of $32 billion. Alongside this surge, MSTR-linked ETFs, including MSTU and MSTX, collectively added $6 billion in trading volume, surpassing all spot Bitcoin ETFs combined.
On Wednesday, MSTR was the second-most traded stock on Wall Street, trailing only Nvidia (NVDA) and outperforming heavyweights from the Magnificent 7, such as Apple and Tesla.
This surge in trading activity was part of a broader milestone for the Bitcoin industrial complex, which recorded $50 billion in trading volume in a single day, equivalent to the average daily volume of the entire UK stock market. Since their launch in mid-September, MSTU and MSTX ETF share prices have skyrocketed by 906% and 743%, respectively, while MSTR stock has risen 591% year-to-date.
MicroStrategy’s massive Bitcoin acquisition strategy has fueled this momentum. Earlier this week, the company announced purchasing 51,780 Bitcoin for $4.6 billion, bringing its total holdings to 331,200 BTC, valued at over $31 billion. The combined market value of MicroStrategy now exceeds $96 billion, giving shareholders a significant premium.
Bitcoin critic Peter Schiff commented on this trend, highlighting the cycle of Bitcoin purchases driving up MSTR's stock price and vice versa, sparking debate about sustainability. Meanwhile, Bitcoin itself hit a new all-time high of $97,500, with bullish analysts predicting further gains to $135,000. MicroStrategy's success has underscored its pivotal role in the cryptocurrency market, drawing attention from traditional financial and crypto sectors alike.
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