Saylor’s Strategy Boosts Market Cap as Bitcoin Surges to New Heights
Michael Saylor’s MSTR Achieves Record Market Capitalization Amid bitcoin Surge
Michael Saylor’s company, MSTR, reached a historic market capitalization on Wednesday, coinciding with bitcoin‘s impressive performance near its all-time highs.
MSTR Stock Price on the Rise
In a post on X, Saylor announced that MSTR had closed at an unprecedented market cap. Over the past month, MSTR’s stock has surged by 21.52%, finishing Wednesday at $455.90, as reported by Google Finance.
In parallel, bitcoin (BTC) has seen a 10% increase in value over the same period, hitting a peak of $122,884 on Monday before settling at $118,413 at the time of this report, according to Nansen data. Options trader Sean Trades commented that MSTR appears to be “gearing up for the next leg to all-time highs.”
Source: Google Finance
Despite this milestone, MSTR’s stock is still 19% lower than its peak of $543, achieved on November 20. The company has been actively issuing shares to fund its ongoing bitcoin acquisition strategy.
MSTR’s S&P 500 Qualification and Continued bitcoin Investments
Jeff Walton, vice president at Strive Funds bitcoin Strategy, noted in a post on X that MSTR has now qualified for the S&P 500 for the 11th consecutive day. In a May documentary titled “Michael Saylor’s $40 Billion bitcoin Bet,” Walton predicted that MSTR would emerge as the leading publicly traded equity due to its financial potential bolstered by bitcoin.
Recently, the company disclosed in a filing with the U.S. Securities and Exchange Commission that it purchased 4,225 bitcoin for $472.5 million in the previous week. MSTR is set to release its latest earnings report on August 5, although it has reported net losses for the last three quarters.
This article is for informational purposes only and does not constitute investment advice. Readers are encouraged to conduct their own research before making any financial decisions.
