MicroStrategy

MicroStrategy purchased 2,138 Bitcoin tokens at an average price of approximately US$97,837 from Dec 23 through Dec 29.

“Could it get to US$18 trillion dollars” in market cap, Scaramucci said. “We believe that it could. Is it a direct line to US$18 trillion? No.”

Bitcoin through Sunday cemented a seven-week winning streak, the longest such run since 2021. But the pace of gains cooled more recently, which could be an indication that “a pullback may be coming”.

The company started out as a maker of enterprise analytics software more than three decades ago but gained renown and became vastly more valuable since it started amassing Bitcoin.

MicroStrategy is now more similar to a commodity or an ETF since it is “essentially a dead company” without its Bitcoin, says an analyst.

The company has been buying tokens for an average purchase price above the average price of Bitcoin over four of the last five weeks it bought tokens.

The Nasdaq-listed company has become the largest publicly traded corporate holder of the digital currency.

Not surprisingly, there is significant controversy surrounding Bitcoin.

Morgan Stanley’s investment management arm boosted a stake in Bitcoin vehicle MicroStrategy Inc. to more than 10% late last year