The Bitcoin(CRYPTO: BTC) cryptocurrency posted a solid gain in the first half of 2024, starting with the introduction of spot Bitcoin exchange-traded funds (ETFs) in January. Bitcoin mining rewards were halved on April 19, hardly moving the crypto price right away but setting the stage for another four-year cycle of boom and bust. By the end of June, it had cruised to a solid 44.2% gain according to data from S&P Global Market Intelligence.
Then there’s MicroStrategy(NASDAQ: MSTR). The enterprise software company decided to ride Bitcoin’s coattails in the most amplified fashion four years ago. MicroStrategy’s balance sheet held $7.5 billion worth of Bitcoin but only $81 million of cash by the end of March. Mirroring Bitcoin’s rise with an extra shot of adrenaline, MicroStrategy shot up a whopping 118.1% in six months.
Meanwhile, most crypto miners didn’t share the same bullish fate. The reward halving had an immediate effect on their…
