Michael Saylor’s Strategy Hits Record Market Cap as Bitcoin Stays Near Highs

MicroStrategy ( MSTR ), led by Bitcoin advocate Michael Saylor, closed at a record market capitalization on Wednesday, driven by investor confidence and Bitcoin’s steady performance near all-time highs. “ MSTR just closed at an all-time high market cap ,” Saylor posted on X, formerly Twitter, celebrating the company’s latest financial milestone. MSTR Surges Alongside Bitcoin’s Bullish Momentum MicroStrategy’s stock has seen significant appreciation in recent weeks. According to Google Finance, the company’s shares climbed 21.52% over the past month, ending Wednesday’s session at $455.90. Bitcoin, which underpins the firm’s strategy, has also gained 10% over the past 30 days. It peaked at $122,884 earlier in the week before pulling back slightly to $118,413 at the time of writing, according to Nansen data. The close correlation between Bitcoin’s performance and MSTR’s stock has been a consistent feature of the company’s market behavior. Options trader Sean Trades shared optimism about MicroStrategy’s trajectory, stating the stock is “ gearing up for the next leg to all-time highs .” Despite Record Cap, MSTR Shares Still Below Peak Although MicroStrategy now boasts a record valuation, its stock price remains nearly 19% below its all-time high of $543, last achieved in November 2021. To fuel its aggressive Bitcoin acquisition strategy, the firm continues to raise capital by issuing new stock. That approach has enabled it to significantly expand its digital asset holdings. On Monday, the firm disclosed in a filing with the U.S. Securities and Exchange Commission that it had purchased 4,225 more Bitcoin, investing $472.5 million. S&P 500 Qualification and Future Outlook MicroStrategy’s ongoing growth could position it for entry into the S&P 500. Jeff Walton, vice president at Strive Funds Bitcoin Strategy, highlighted on Wednesday that this marks the 11th consecutive day that MicroStrategy has qualified for inclusion in the index. In a May Financial Times documentary titled Michael Saylor’s $40 Billion Bitcoin Bet , Walton predicted that Strategy could become “ the number one publicly traded equity in the entire market ,” citing its anticipated financial strength from Bitcoin. The company is scheduled to release its latest earnings report on August 5. Despite posting net losses over the past three quarters, the firm remains committed to its crypto-centric growth model. With Bitcoin hovering near peak levels and the company’s strategy gaining institutional recognition, MicroStrategy’s trajectory remains closely tied to crypto market dynamics.

Source: CryptoIntelligence