In just few weeks after MicroStrategy’s rebrand, Strategy’s STRK has skyrocketed to become the top-performing perpetual security listed in the U.S
It’s like the new kid on the block who instantly becomes the most popular kid in school.
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Dominate the market?
STRK literally burst onto the scene with a bang, initially hitting $100 before settling down to a more manageable $48.
But don’t let that price drop fool you, it’s still trading at volumes that are seven times higher than the average security.
MicroStrategy’s founder, Michael Saylor, couldn’t contain his excitement about STRK’s rise, and pointed out that out of 115 preferred securities launched in the U.S. since 2022, STRK is leading the pack in both price gains and trading volume.
Just to give you an idea of its performance, it kicked off with a 1.3% gain on day one, jumped 8% in its first week, and wrapped up the second week with a solid 17.6% increase. That’s almost a 19% edge over its competitors.
Investors’ confidence
The hype around STRK isn’t just about numbers, but it reflects a growing confidence among investors despite some ups and downs.
Sure, it peaked at $100 on launch day and dipped to $52 within a week, so there’s a quite huge volatility, but it seems to have found its footing around $48.
The idea behind STRK’s launch was to raise funds for Bitcoin purchases, and they absolutely crushed it by raking in $563.4 million, nearly three times their original goal.
Uncharted waters?
Not so long ago, Michael Saylor and El Salvador’s President Nayib Bukele had a meeting at the presidential palace to chat about expanding Bitcoin’s reach globally.
They’re positioning El Salvador as a major player in the Bitcoin game. After their meeting, rumors swirled that Strategy might relocate its headquarters to El Salvador, following Tether’s lead.
We have to tell that this seems unlikely since they have a solid footing in the U.S., where regulations are looking up.
Under Bukele’s leadership, El Salvador has become a Bitcoin powerhouse while Strategy holds the title of largest corporate BTC investor with an impressive stash of 478,740 BTC compared to El Salvador’s 6,079 BTC in national reserves.
