MicroStrategy (MSTR), a company focused on bitcoin development, has officially entered the top 100 publicly traded U.S. companies, now ranked 97th by market capitalization.
The company’s stock soared 12% on Tuesday, surpassing $400 per share, thanks in part to Bitcoin reaching new all-time highs above $94,000. This sharp rise lifted MicroStrategy 29 spots higher, marking a significant milestone in its growth.
On Wednesday, shares continued to climb, driven by Bitcoin’s ongoing price surge and MicroStrategy’s decision to increase its 0% convertible debt offering to $2.6 billion, up from an initially planned $1.75 billion. The additional funds will be used to acquire more bitcoin, further strengthening the company’s position in the crypto market. As of premarket trading, the stock was up 6.6% and has gained a staggering 528% year-to-date.
The company has now issued six convertible notes, maturing between 2027 and 2032, with this latest offering being the largest to date. As of November 18, MicroStrategy holds 331,200 bitcoin, valued at over $30 billion, which is approaching the company’s nearly $100 billion market cap.
