From tech boom to Bitcoin era: MicroStrategy’s journey to a $20 billion market cap

exchange68September 11, 2024

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Quick Take

MicroStrategy (MSTR), known for its significant bitcoin treasury, has experienced an impressive financial climb, concluding 24% higher after the March 4 close, placing its current trading value at $1,334.

MSTR has experienced a remarkable 95% surge year-to-date, outpacing Bitcoin’s 52% appreciation in the same period.

MSTR Share Price: (Source: Trading View)

This performance, as reported by CompaniesMarketCap, escalates MSTR’s market cap to $20 billion, doubling the peak of its 2021 bull run, which was around $10 billion in February 2021. The tech boom in 2000 saw MSTR hit heights over $3,000 a share, hinting at the potential for such ascents.

Market Cap History of MSTR: (Source: companiesmarketcap.com)

A vital move that stands out is MicroStrategy’s launch of a $600 million notes offering, reported by CryptoSlate on March 4. This strategic undertaking was designed to fuel further Bitcoin acquisition as the company’s stock surged. Currently, MicroStrategy holds roughly 193,000 Bitcoin. To achieve 1% of the total Bitcoin supply, the company needs to acquire an additional 17,000 Bitcoins.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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