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Michael Saylor's MicroStrategy Hits $108B Market Cap, Becomes Most Traded Stock in US

Nov 20, 2024, 03:19 PM

MicroStrategy Inc., led by Michael Saylor, has surpassed a $100 billion market capitalization, marking a significant milestone in its financial journey. The company's market cap reached $108 billion, making it the 93rd largest publicly traded company in the United States. This achievement comes after MicroStrategy added $76 billion to its market cap since September, driven by its aggressive Bitcoin acquisition strategy. The company's 331,200 Bitcoin reserve now equals $30 billion, contributing to its market value. MicroStrategy's stock surged by 528% this year, and it recently raised $2.6 billion through a 0% convertible note to further its Bitcoin holdings. MicroStrategy's market value now exceeds that of companies like Intel and UBS, and it has become the most traded stock in the US today, surpassing even Tesla and Nvidia in trading volume.