- MicroStrategy has stepped into the top 100 U.S. publicly traded companies with a $96 billion market cap.
- The firm currently holds a total of 331,200 Bitcoin.
MicroStrategy has made an entrance to the top 100 publicly traded companies list in the U.S. by market cap, securing the 97th spot. The firm’s market cap has reached $96.73 billion.
This follows a surge in the company’s stock price, which climbed 12% yesterday, breaking the $400 mark. Notably, the stock closed at $430, pushing the company up 29 spots in the rankings.
The firm has been one of the most observed companies in 2024, with its year-to-date increase of 500%, outpaced Nvidia (NVDA). Over the past five years, MicroStrategy’s stock price has increased by 2,739%, while Nvidia’s has surged by 2,688%.
Bitcoin Holding
MicroStrategy holds a total of 331,200 Bitcoin, worth approximately $30 billion, as of November 18. This extensive holding underscores the firm’s focused Bitcoin accumulation strategy, which earned the title of the largest publicly traded Bitcoin holder.
Moreover, the growth of the company’s market cap has aligned with its Bitcoin holdings. However, with a fully diluted share count of 256.3 million shares, MicroStrategy’s market capitalization is valued at $110 billion, ranking it as one of the largest non-S&P 500 companies.
MicroStrategy’s aggressive accumulation of Bitcoin and its financial advantage have drawn the attention of institutional and retail investors. On the other side, the firm has recently announced its plans to sell $1.75 billion worth of new convertible bonds.
BTC Price Momentum
The achievement of MicroStrategy has coincided with Bitcoin hitting its new all-time high at $94K. It might fuel investor optimism and emphasize the firm’s strategy to hold Bitcoin as its primary reserve asset.
Bitcoin (BTC) currently trades at $93,655 with its trading volume reaching $1.85 trillion. The asset’s daily trading volume has soared to $76.75 billion after a spike of over 8.50%. The crypto market expects BTC to hit $100K shortly as the price momentum is bullish.
Highlighted Crypto News
