MicroStrategy (MSTR) breaks into the ranking of the top 100 USA assets by market cap: the credit goes to Bitcoin

MicroStrategy, a well-known business intelligence company managed by the Bitcoin maximalist Michael Saylor, has just entered the list of the top 100 USA companies by market cap.

Yesterday, the MSTR stock increased by 11.89% during the trading session on the Nasdaq, bringing its market capitalization to 96.7 billion dollars.

Bitcoin is the co-star of this success, being the main asset in the balance sheet of the American company. All the details below.

MicroStrategy grows again and enters the top 100 USA for market cap

MicroStrategy has just overcome the latest hurdle to enter the ranking of the top 100 publicly traded USA companies by market cap.

The news came after yesterday the MSTR stock recorded significant growth upwards, enough to bring its capitalization to 96.7 billion dollars.

With this move, the software solutions company based in Virginia has climbed 29 positions according to the database of Companiesmarket cap.com.

Now MicroStrategy is ranked #97, immediately above giants such as Dell, Apollo Global Management, and Altria Group.

To highlight also how in the last 24 hours it has recorded the highest percentage point gain in the entire top 100 ranking.

Instead, in terms of market cap increases, the primacy of the day goes to Nvidia, which has increased by over 150 billion dollars in anticipation of the quarterly reports.

Obviously, the reason for this bullish phase of MicroStrategy is attributed to Bitcoin, which just yesterday marked new highs at 94,000 dollars.

The company is in fact the largest public company in the world for BTC held on the balance sheet, with 331,200 coins in the safe.

A positive price action of the cryptocurrency has driven shareholders to massively purchase the U.S. stock MSTR, seeing speculative opportunities.

In fact, the more Bitcoin increases in value, the more the shares of MicroStrategy indirectly take on an attractive quotation in the market.

Many crypto traders even see MicroStrategy as a solution to leverage on BTC.

MicroStrategy (MSTR) +11.89% in the last 24 hours: the bullish trend is unstoppable

As mentioned, the stock MSTR of MicroStrategy recorded a growth of 11.89% yesterday, significantly boosting its market cap.

In a single day, the prices crossed the resistance of 400 dollars and continued the run up to the maximum of 449 dollars, only to close at 430 dollars.

The pre-market quotations highlight the strong possibility of a bullish continuation even in today’s session, with prices set at 443 dollars.

In parallel, Bitcoin also continues its crazy climb towards 100,000 dollars, bringing more and more participation to the market.

The crypto has surpassed the market cap of 1.85 trillion dollars, but it will likely soon cross the threshold of 2 trillion.

That of MicroStrategy is an incredible success story that begins in September 2020, ever since Michael Saylor decided to adopt the bitcoin standard.

From that moment, MSTR is up by 2,739%: numbers even higher than Nvidia, which has grown by 2,688% in the same period.

The year 2024 was a super positive year for the business intelligence company, marking a 500% appreciation in the bull market.

Now the prices are in the discovery phase, well above the EMA50 which indicates an excess of euphoria in the trading.

In any case, as long as Bitcoin is bullish, we can expect further increases in market cap from MicroStrategy.

The recurring purchases of Michael Saylor on Bitcoin: the PNL is 14.5 billion dollars

Michael Saylor continues to clean up Bitcoin, bringing MicroStrategy’s crypto balance ever higher.

Just 2 days ago the magnate of the orange coin announced the sale of a senior convertible note worth 1.75 billion dollars.

The private deal provides for a 0% coupon with the note that will mature on December 1, 2029, and in the meantime can be repurchased or redeemed in accordance with the terms. 

We remind you that MicroStrategy’s investment product is not guaranteed and will not have a regular interest.

The money that will be obtained from this initiative will obviously be used to purchase more Bitcoin and increase the company balance sheet.

According to the data from the tool SaylorTracker, currently MicroStrategy holds 331,200 BTC with a value of over 31 billion dollars.

In total, we count 46 bull operations executed by Michael Saylor from September 2020 until today.

The average carrying cost is approximately 50,000 dollars per BTC, for a total cost of 16.5 billion dollars. 

This places the unrealized net profit (PNL) of MicroStrategy at approximately 14.5 billion dollars.

In percentage terms, the company’s investment is up by 87.2%.

If Bitcoin continues to deliver excitement in the market, we can expect new gains from MicroStrategy and a further jump in market cap.