In what is a massive moment for the company, Michael Saylor’s MicroStrategy (MSTR) has officially surpassed a $100 billion market cap. Indeed, the company had recently announced its $2.6 billion debt offering to buy more Bitcoin, as the market value has only increased throughout the last several weeks.
The company had most recently purchased an additional $4.6 billion worth of Bitcoin. That acquisition brought the company’s total holdings above 331,200 BTC worth more than $30 billion at their current price. Saylor’s Bitcoin strategy was viewed by many as a key reason for the stock’s performance, as the leading crypto has surged to consecutive all-time highs in the last two weeks.
Also Read: Michael Saylor’s MicroStrategy a New Wall Street Favorite as it Outperforms Bitcoin
MicroStrategy Passes $100 Billion Market Cap, Enters Top 100 Public Companies in the US
It has been an incredible two weeks for Bitcoin. Amid the 2024 election results seeing the country shift to a pro-crypto environment, the asset has surged to consecutive landmark prices. Currently, the asset has surpassed the $94,000 level for the first time ever.
Subsequently, one of the asset’s strongest defenders has surged alongside it. Indeed, Michael Saylor’s MicroStrategy has surpassed a $100 billion market cap. Moreover, the company did so on the heels of its BTC accumulation strategy, that has paid off in a big way this year.
Source – CoinGape
Also Read: Michael Saylor to Convince Microsoft to Buy Bitcoin?
Year to date, MicroStrategy (MSTR) is up more than 500%. As a matter of fact, the company’s share is up almost 14% over the last 24 hours. Even before reaching the market cap landmark, the software firm had already broken into the top 100 publicly traded companies in the United States.
The firm had jumped 29 places on the top 100 to currently sit at the 97th highest in the country. Saylor’s firm didn’t stop to celebrate, however, as it is seeking $2.6 billion—up from the previously reported $1.75 billion—to buy even more Bitcoin.
