MicroStrategy Breaks Into the Top 100 U.S. Public Companies

With more than 1.5% of all Bitcoin ever mined on its balance sheet, MicroStrategy has entered the prestigious list of the top 100 largest public companies in the U.S. by market capitalization, claiming the 97th position.

On November 20, 2024, MicroStrategy’s stock price hit an intraday high of $486, representing a remarkable 40% increase in less than a week.Over the past year, MSTR has risen 847%, outpacing even Bitcoin’s extraordinary growth.

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Stock Performance of MicroStrategy in November 2024 Source: Google Finance

BTC has been a driving force behind MicroStrategy’s recent growth. On November 20, Bitcoin reached a record high, nearly hitting $95,000.

Bitcoin Pushes to New Records Source: Google Finance

This surge also aligns with MicroStrategy’s decision to boost its zero-interest convertible notes offering from $1.75 billion to $2.6 billion. The additional funds are earmarked for purchasing more Bitcoin, as expected.

This marks the largest of MicroStrategy’s six convertible notes offerings, with maturities ranging from 2027 to 2032.

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As of November 18, MicroStrategy owned 331,200 BTC, valued at over $31 billion at current prices. Analysts unanimously point to the company’s bold Bitcoin-focused strategy as the driving force behind its rise to prominence among the largest U.S. public companies.

MicroStrategy Ranks Among Top 100 U.S. Companies Source: companiesmarketcap.com

MicroStrategy’s ascent highlights the expanding role of cryptocurrencies in the world of traditional finance. The inclusion of such a major Bitcoin supporter in the top 100 could inspire other companies to consider Bitcoin as a core treasury asset.