MicroStrategy Soars as Bitcoin Surges Past $98,000

MicroStrategy's stock hit an all-time high as Bitcoin surged past $98,000, though it later dropped 18% before recovering. This volatility reflects Wall Street's high expectations for crypto stocks amid Bitcoin's post-election rally. MicroStrategy, led by Michael Saylor, has significantly increased its Bitcoin holdings, now worth over $31 billion, and plans to expand its convertible notes offering to $2.6 billion to buy more Bitcoin. Other crypto-related stocks like Bitfarms and Coinbase also experienced declines.