MicroStrategy Now About Top 100 Biggest Public Companies in US
Virgia-based business intelligence firm MicroStrategy has appeared on the list of the 100 leading publicly listed American companies by market capitalization.
The market cap of MicroStrategy swelled to a new peak of $97.50 billion earlier today. The company, which was relatively obscure just a few years ago, has now surpassed such big names as Dell and Spotify. Now, it appears to be on track to surpass Intel as well. The chip giant is currently valued at $103.3 billion, according to the most recent data.
Earlier today, the price of Bitcoin hit yet another record high of $94,891, according to CoinGecko data.
Meanwhile, the shares of MicroStrategy have surged by nearly 12% during today's market session.
Beating Tesla and Nvidia in trading volume
Notably, MSTR became the most traded stock in the U.S., surpassing such juggernauts as Nvidia and Tesla.
Alex DovbnyaProminent analyst Eric Balchunas has highlighted the significance of this achievement by pointing It's been years since the stock of another company has traded more than one of those two. General Motors (GME) appears to be the last stock that managed to pull off the same feat.
MicroStrategy's Bitcoin buying spree
As reported by U.Today, the Virgian-based company recently announced a record-shattering $4.6 billion Bitcoin purchase earlier today.
Due to high demand, the company also recently boosted its convertible note offering to $2.6 billion.
The company's Bitcoin holdings currently stand at $31.2 billion.
Some skeptics however are questioning his strategy. "The more Bitcoin he buys, the higher the Bitcoin price rises. When the price of Bitcoin goes up, the share price of MSTR goes up more. When does it end?"
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