MicroStrategy (MSTR), led by Michael Saylor, reached its highest-ever market capitalization on Wednesday, riding the wave of Bitcoin’s recent price strength.
“New record for MSTR market cap,” Saylor announced on X (formerly Twitter) following the market close.
MSTR Stock Rises Alongside Bitcoin Surge
MSTR shares have climbed 21.52% over the last month, ending Wednesday’s session at $455.90, per Google Finance. Meanwhile, Bitcoin (BTC) has also rallied 10% over the same period. After touching a high of $122,884 on Monday, BTC pulled back slightly to $118,413 as of press time, according to Nansen.
Options trader Sean Trades noted on Wednesday that MSTR appears poised to break further upward, calling it “ready for another push toward new all-time highs.”
Although its market cap is at a peak, MSTR’s share price remains roughly 19% below its record high of $543 from November 20. The company continues to raise capital through stock sales to fuel its aggressive Bitcoin accumulation strategy.
11 Days Toward S&P 500 Inclusion
Jeff Walton, VP at Strive Funds Bitcoin Strategy, pointed out that Wednesday marked the 11th consecutive day MSTR has qualified for potential inclusion in the S&P 500 index.
In a Financial Times documentary from May titled Michael Saylor’s $40 Billion Bitcoin Bet, Walton predicted that MicroStrategy could become the top-performing public company in the market, thanks to its long-term Bitcoin-focused strategy.
Earlier this week, the firm disclosed in a U.S. SEC filing that it had purchased another 4,225 BTC for approximately $472.5 million.
MicroStrategy is scheduled to release its next earnings report on August 5. Despite recent milestones, the company has posted net losses for the past three quarters.
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