MicroStrategy Rises to 97th Among Top 100 US Public Companies
American business intelligence and software firm MicroStrategy Inc (NASDAQ: MSTR) ranks among the top 100 publicly traded companies in the United States, now holding the 97th position after a 29-place jump. This increase is attributed to a 12% rise in its stock price, closing at $430 with a market cap of $96.73 billion.
Bitcoin’s Record Highs Propel MicroStrategy’s Growth
MicroStrategy's performance aligns with Bitcoin's surge to new all-time highs above $94,000. The company's investment in Bitcoin as a treasury asset has proven beneficial, with its stock rising over 500% year-to-date, significantly outperforming Bitcoin's 100% increase. Analysts note that MicroStrategy has outperformed tech giant NVIDIA in stock price growth over the past five years, despite NVIDIA's success in AI and semiconductors.
Since adopting Bitcoin as a corporate asset in August 2020, MicroStrategy's stock has increased by 2,739%, compared to NVIDIA's 2,688%. This difference highlights Bitcoin's impact on corporate finance and unconventional investment strategies. As of mid-November, MicroStrategy holds 331,200 Bitcoin units valued over $30 billion, making it the largest publicly traded holder of Bitcoin.
Business Pursuit with Unconventional Financing
On November 18, MicroStrategy announced a $1.75 billion convertible senior note offering, set to mature by 2029 with a 0% coupon rate. This strategy allows the firm to raise capital without traditional interest costs, with speculation that the offering may reach $2 billion if oversubscribed.
MicroStrategy's upward trajectory continued with a 3% gain in pre-market trading on Wednesday. Its combination of Bitcoin investment and corporate growth reflects a long-term vision that could strengthen its influence in both the Bitcoin and corporate sectors.