MicroStrategy has broken into the top 100 US publicly traded companies by market cap list.
Background
- At press time, MSTR was sitting at the 86th position, just below Starbucks
- With a market cap of over $110 billion, MSTR registered a 14% price surge to trade at the brink of $500 per share
- The share surge comes on the back of the BTC’s price claiming a new ATH of $94k
- MSTR also recently expanded its 0% convertible debt offering to $2.6 billion from the previous threshold of $1.75 billion
- The company has now issued six convertible notes
- They are set to mature in the period between 2027 to 2032
- The latest offering is the company’s largest to date
- MSTR is the largest corporate holder of BTC
- At the moment, it holds 331,200 coins
- Their aggregate worth is over $31 billion at the current market price
Who said what?
- Highlighting the latest feat unlocked, ETF analyst Eric Balchunas exclaimed,
“Wow MSTR is the most traded stock in America today.. to beat $TSLA and $NVDA is crazy. It's been years since a stock has traded more than one of those two (it may have actually been $GME to last do it). It's also about double $SPY! Wild times.”
In other related news
- Michael Saylor recently revealed that he will make a three-minute presentation to Microsoft’s board of directors about investing in Bitcoin
- The BTC bull had earlier proposed to meet Microsoft’s CEO Satya Nadella “in confidence” to discuss about BTC
- That offer, however, was not accepted
- For context, Microsoft recently revealed that one of its voting items in December will revolve around the assessment of considering Bitcoin investments or not
- Saylor affirmed, “I think it’s not a bad idea to put it on the agenda of every company. It ought to be put on the agenda of Berkshire Hathaway and Apple and Google and Meta because they all have huge hordes of cash, and they’re all burning shareholder value”
