As a seasoned analyst with over two decades of experience in the tech and finance industries, I must admit that the meteoric rise of MicroStrategy is nothing short of astounding. Just a few years ago, this relatively obscure business intelligence firm was barely on my radar, now it’s challenging tech titans like Dell and Intel for market cap supremacy.
A Virginia-based company specializing in business intelligence, MicroStrategy, is now among the top 100 publicly traded American corporations ranked by their total market value.
Earlier today, MicroStrategy’s market capitalization reached a record high of $97.50 billion. This company, previously not very well-known, has now outshone giants like Dell and Spotify, and is poised to surpass Intel as well. Currently, Intel is valued at approximately $103.3 billion, according to the latest figures.
Today, the cost of a single Bitcoin soared to a new peak of $94,891, as reported by CoinGecko.
Meanwhile, the shares of MicroStrategy have surged by nearly 12% during today’s market session.
Beating Tesla and Nvidia in trading volume
Significantly, Mastercard (MSTR) took the lead as the most actively traded stock in the United States, outpacing giants like Nvidia and Tesla.
Analyst Eric Balchunas has emphasized the rarity of this accomplishment, noting it’s been quite some time since a different company’s stock traded as much volume as both these two. Generally Motors (GME) appears to be the last corporation that successfully achieved the same feat.
MicroStrategy’s Bitcoin buying spree
According to reports from U.Today, a Virginia-based firm has just made an unprecedented Bitcoin acquisition worth a staggering $4.6 billion.
Because of a surge in demand, the company has just increased the size of its convertible note offering to an impressive $2.6 billion.
The company’s Bitcoin holdings currently stand at $31.2 billion.
As a researcher examining this phenomenon, I find myself questioning the sustainability of this observed correlation: “As I acquire more Bitcoin, its value seemingly increases. In turn, the stock price of MicroStrategy (MSTR) follows suit, climbing even higher. Is there a limit to this growth trajectory?
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2024-11-20 20:33