MicroStrategy, a software company that is enthusiastic about Bitcoin, has seen its stock price soar as the largest digital currency nears a record high. Trading on the Nasdaq as MSTR, MicroStrategy’s stock rose by almost 24% at the close of trading on Monday. Shares are currently valued at $1,683 each, the highest price seen in almost 20 years. MicroStrategy has announced a plan to raise $600 million through a private sale of convertible senior notes to buy more Bitcoin. Since adopting a Bitcoin investment strategy in August 2020, the company’s stock has increased by 809%, benefiting its shareholders. The company, now the biggest publicly traded corporation holding the asset, was initially purchased by co-founder and chairman Michael Saylor as a means to combat inflation and provide shareholders with a reliable store of value over time. The company had a lot of cash on hand, and the CEO has consistently promoted MSTR stock as a secure option for investors seeking a straightforward way to invest in cryptocurrency. The company, which specializes in data analytics software, has been actively purchasing Bitcoin and currently holds 193,000 BTC, valued at over $13 billion at current prices. Bitcoin is nearing its all-time high from November 2021 of $69,044 per coin. According to CoinGecko, the current price of the cryptocurrency has increased by almost 7% in the past 24 hours, reaching $68,217. This information was edited by Ryan Ozawa. Keep yourself updated on cryptocurrency news by signing up for daily email updates.