spot_img
7 C
London
Saturday, December 7, 2024
HomeCoinpedia NewsMicroStrategy Enters Top 100 U.S. Public Companies by Market Cap: The Bitcoin...

MicroStrategy Enters Top 100 U.S. Public Companies by Market Cap: The Bitcoin Effect

Date:

Related News

Dogwifhat (WIF) Set to Explode, Experts Eyes in $5

The post Dogwifhat (WIF) Set to Explode, Experts Eyes...

Coinbase Achieves Major Milestone, Lists Its 100th Perpetual Futures Contract

The post Coinbase Achieves Major Milestone, Lists Its 100th...

Will XRP Reach $3? Whale Buys $288 Million in Tokens

The post Will XRP Reach $3? Whale Buys $288...

China’s Central Bank Expands Gold Reserves In November After 6-Month Pause

The post China’s Central Bank Expands Gold Reserves In...

MicroStrategy’s BTC Holdings

The post MicroStrategy Enters Top 100 U.S. Public Companies by Market Cap: The Bitcoin Effect appeared first on Coinpedia Fintech News

MicroStrategy, which proclaims itself to be the world’s first Bitcoin development company, has recently been making strides with significant milestones achieved in its name. The prominent Bitcoin advocate, Michael Saylor’s firm has just entered the top 100 U.S. publicly traded companies, which is currently in the 97th place.

Stock Surges Amid Bitcoin’s New All-Time High


The milestone follows an impressive 12% surge in its stock price, closing Tuesday at $430 per share after it crossed the $400 mark earlier in the day. Notably, its exceptional performance overlapped with Bitcoin hitting new all-time highs of over $94,000. 

MicroStrategy has been performing exceptionally well and has been one of the main stories in 2024, as it has soared over 500% year-to-date, with Bitcoin up over 100% in the same time frame.

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. 

Furthermore, Michael Saylor has also revealed plans to deliver a three-minute presentation on Bitcoin investment strategy to Microsoft’s board of directors. Interestingly, the upcoming presentation coincides with a forthcoming shareholder vote on December 10 to decide whether Microsoft should conduct an assessment on investing in Bitcoin. Microsoft holds $78 billion in cash reserves and could greatly impact the crypto market if it invests in Bitcoin

Saylor has previously argued that Microsoft and other cash-rich companies, such as Berkshire Hathaway, Apple, and Google, are missing an opportunity to strengthen shareholder value by not holding Bitcoin.

Bitcoin Going Strong

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’. 

spot_img

Trending News

LEAVE A REPLY

Please enter your comment!
Please enter your name here