MicroStrategy has made quite a splash recently. They’ve officially broken into the top 100 publicly traded companies in the U.S., boasting an impressive market cap of $96 billion.
The company’s stock is now trading above $400 per share, marking a staggering 528% increase year-to-date. That’s some serious growth!
MicroStrategy (MSTR) focuses on bitcoin (BTC) development. As of now, they sit at 97th place among U.S. public companies. Just this past Tuesday, they jumped up 29 spots after a 12% surge in stock price, closing at $430. This surge coincided with bitcoin reaching new all-time highs of over $94,000.
In 2024, MicroStrategy has become a major player, seeing over 500% growth this year, while bitcoin has also climbed more than 100% during the same stretch. Here’s a standout fact: over the last five years, MicroStrategy has outperformed NVIDIA (NVDA). Even though MSTR only started using bitcoin as a treasury asset in August 2020, it has skyrocketed by 2,739%, while NVIDIA has increased by 2,688%.
As of November 18, MicroStrategy holds 331,200 bitcoins, which is valued at over $30 billion. They continue to lead the way as the largest publicly traded bitcoin company. On the same day, they announced a $1.75 billion convertible senior note with a 0% coupon rate. This note will mature on December 1, 2029, and it can be repurchased or redeemed early based on specific terms. Importantly, it is unsecured and does not accrue regular interest.
There’s also buzz around whether this convertible note has been oversubscribed. If it has, that could boost its issuance by $250 million, bringing the total to $2 billion. Excitingly, MicroStrategy’s stock rose over 3% in pre-market trading on Wednesday.