MicroStrategy, known as the world’s first Bitcoin-focused development company, has reached a major milestone by joining the top 100 publicly traded companies in the U.S. The firm, led by prominent Bitcoin advocate Michael Saylor, now ranks 97th, reflecting its growing influence in the cryptocurrency market.
The company’s stock price surged by 12% on Tuesday, closing at $430 after crossing the $400 mark earlier in the day. This rise coincided with Bitcoin hitting an all-time high of over $94,000, further solidifying MicroStrategy’s reputation as a Bitcoin leader.
MicroStrategy’s performance has been a defining story in 2024, with its stock climbing over 500% since the start of the year. In comparison, Bitcoin has also had a stellar year, gaining more than 100% over the same period.
Over a five-year span, the company’s stock has skyrocketed 2,739%, surpassing even tech giant NVIDIA (NVDA), which has gained 2,688% in that time frame. It currently holds 331,200 Bitcoin, valued at over $30 billion based on recent market prices.
Saylor’s Bold Plans
The firm also recently revealed its plans to raise an additional $1.75 billion through convertible notes to increase its cryptocurrency holdings. MicroStrategy plans to issue senior convertible notes with a 0% interest rate, maturing in December 2029 to fund its Bitcoin acquisitions.
Michael Saylor is set to present a Bitcoin investment strategy to Microsoft’s board of directors in an upcoming three-minute pitch. This meeting aligns with a December 10 shareholder vote that will decide if Microsoft should evaluate investing in Bitcoin.
With $78 billion in cash reserves, Microsoft’s potential investment could significantly impact the crypto market. Saylor has repeatedly highlighted that companies like Microsoft, Apple, Google, and Berkshire Hathaway are missing a chance to enhance shareholder value by not holding Bitcoin.
Bitcoin rose to a record high above $94,000 as a report that Donald Trump’s social media company was in talks to buy crypto trading firm Bakkt sparked optimism of a crypto-friendly regime under Trump.
Bitcoin, going strong this bull run, is showing no signs of slowing down anytime soon. Traders at Singapore-based QCP Capital said in a Telegram broadcast shared that the predictions of BTC at 100K are not unattainable anymore as ‘the political and institutional stars start to align’.
MicroStrategy’s journey proves one thing: in the world of Bitcoin, fortune indeed favors the bold.
Shiba Inu (SHIB) recently demonstrated its resilience with a significant transaction volume of 6.71 trillion…
As crypto matures into a more regulated financial ecosystem, privacy has quietly become one of…
President Donald Trump has made a U-turn in the US-China trade war. He now proposes…
Bitcoin has crossed $103,000, and JAN3 CEO Samson Mow is making noise. Known for his…
Shiba Inu (SHIB), the internet’s favorite dog-themed coin, is making headlines once again. Over the…
Story Highlights The Virtuals Protocol price today is . VIRTUAL price could reach a high…
