MicroStrategy Enters Top 100 U.S. Public Companies, Secures 97th Spot

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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November 20, 2024

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MicroStrategy (MSTR) has broken into the top 100 publicly traded companies in the U.S., landing at 97th place.

The milestone follows a remarkable 12% surge in its stock price, closing Tuesday at $430 per share after crossing the $400 mark earlier in the day.

The rally aligns with Bitcoin’s new all-time high of over $94,000.

MicroStrategy Shares Surge Over 500% YTD

In 2024, MicroStrategy has become one of the most compelling market stories, with its stock surging over 500% year-to-date, outpacing Bitcoin’s 100% growth during the same period.

Over a five-year span, the company’s stock has skyrocketed 2,739%, outperforming even tech giant NVIDIA (NVDA), which has gained 2,688% in that time frame.

MicroStrategy currently holds 331,200 Bitcoin, valued at over $30 billion based on recent market prices.

The company’s bold bet on Bitcoin as a treasury asset, adopted in August 2020, continues to yield impressive results.

On November 18, MicroStrategy revealed that it had acquired $4.6 billion worth of Bitcoin.

The firm also announced plans to raise an additional $1.75 billion through convertible notes to increase its cryptocurrency holdings.

To fund its Bitcoin acquisitions, MicroStrategy plans to issue senior convertible notes with a 0% interest rate, maturing in December 2029.

These notes offer investors the option to convert debt into equity, a strategy the company has employed in previous fundraises, such as an $875 million issuance in September 2024 and another in June.

The note could potentially increase by $250 million to $2 billion if oversubscribed.

The convertible note strategy allows MicroStrategy to secure low-interest or interest-free capital, which is then channeled into Bitcoin purchases.

Investors find the conversion feature appealing, particularly with the company’s impressive stock performance.

Those holding the notes can benefit from stock appreciation or choose to reclaim their principal upon maturity.

As of Wednesday’s pre-market trading, MicroStrategy’s stock is up more than 3%, signaling continued investor confidence in the company’s Bitcoin-driven strategy.

Saylor to Pitch Bitcoin Investment Strategy to Microsoft Board

MicroStrategy’s Michael Saylor has announced plans to deliver a three-minute presentation on Bitcoin investment strategy to Microsoft’s board of directors.

Speaking during a November 19 X Spaces event hosted by VanEck, Saylor confirmed he had been contacted by an activist responsible for the proposal to Microsoft’s board, prompting his agreement to present.

“I’m going to provide a three-minute presentation — that’s all you’re allowed — and I’ll send it to the board of directors,” he stated.

His upcoming presentation coincides with an upcoming shareholder vote on December 10 to decide whether Microsoft should conduct an assessment on investing in Bitcoin.

The proposal, spearheaded by the National Center for Public Policy Research (NCPPR), points to MicroStrategy’s Bitcoin investment success.

Saylor argued that Microsoft and other cash-rich companies, such as Berkshire Hathaway, Apple, and Google, are missing an opportunity to strengthen shareholder value by not holding Bitcoin.

Highlighting Microsoft’s enterprise value, Saylor claimed that 98.5% is tied to quarterly earnings, while tangible assets contribute only 1.5%.

He proposed that integrating Bitcoin as a tangible asset could stabilize Microsoft’s stock and reduce risk.