MicroStrategy breaks into the top 100 US public companies by market cap
|-
MicroStrategy has broken into the top 100 U.S. publicly traded companies by market cap, with a $96 billion market cap.
-
MicroStrategy is now past $400 a share and is up 528% year-to-date.
Self-described bitcoin (BTC) development company MicroStrategy (MSTR) has just breached into the top 100 U.S. publicly traded companies, currently sitting in 97th place.
The company jumped 29 places on Tuesday's performance, which saw a 12% price surge through $400 a share, now trading at $430, just as the market closed. The impressive performance coincided with bitcoin hitting new all-time highs of over $94,000.
MicroStrategy has been one of the main stories of 2024, as it has soared over 500% year-to-date, with bitcoin up over 100% in the same time frame.
The most impressive stat is that in five years, MicroStrategy has outperformed NVIDIA (NVDA) even though MSTR only adopted bitcoin as a treasury asset in August 2020. MicroStrategy is up 2,739%, while NVIDIA is up 2,688%.
As of Nov. 18, MicroStrategy held 331,200 bitcoin, which would make their current stash worth over $30 billion.
The developments keep coming for the largest publicly traded bitcoin company. On Nov. 18, MicroStrategy announced a $1.75 billion convertible senior note at a 0% coupon. The note will mature on December 1, 2029, it can be repurchased or redeemed earlier in accordance with the terms. It is unsecured and will not bear regular interest.
We are waiting on further developments if this convertible note has been oversubscribed, which would increase its issuance by $250 million, for a total of $2 billion.
MicroStrategy is up over 3% in pre-market trading on Wednesday.
MSTR vs NVIDIA vs BTC (TradingView)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.