(NASDAQ: MSTR) shares have doubled in 2024 and more than tripled over the last 52 weeks.

When Bitcoin (CRYPTO: BTC) jumps, MicroStrategy soars; the enterprise software specialist has transformed into a Bitcoin manager on steroids. The correlation between this stock and Bitcoin prices has been similar to the statistical link between the S 500 and Dow Jones Industrial Average market indexes in the last three years.

MicroStrategy owns 226,500 Bitcoin nowadays, worth $13.4 billion at today's Bitcoin prices. It only has $67 million of cash equivalents on hand, the rest of its cash reserves being converted into Bitcoin. The strategy includes investing fresh software-business cash flows into more Bitcoin holdings, taking on new debt, and selling stock on the open market to finance further cryptocurrency buys.

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Source Fool.com