Key Points
- MicroStrategy’s market capitalization has hit a new all-time high, surpassing $31.8 billion.
- The company purchased 9,245 Bitcoin, worth $623 million between March 11 and March 18.
MicroStrategy’s market value has reached a record high, with a capitalization exceeding $31.8 billion. Companies Market Cap ranks MicroStrategy 606th among the world’s largest companies in terms of market capitalization. Since the start of the year, the company’s capitalization has nearly tripled, increasing by 135.7% in the last month.
MicroStrategy’s Share Price and Bitcoin
MicroStrategy’s (MSTR) stock price has seen a significant increase, approximately 200%, since the start of 2024, and is currently trading around $1,880. The share price has risen from $141 to $670.71 since the beginning of 2023. However, experts from 10x Research have deemed MSTR to be overvalued. The daily 1.13% increase in market capitalization is linked to Bitcoin’s recovery to $70,000. As per CoinMarketCap data, Bitcoin is trading around $71,600.
MicroStrategy’s Bitcoin Investments and Future Plans
Between March 11 and March 18, MicroStrategy invested in 9,245 Bitcoin, equivalent to $623 million. The latest data indicates that the company now holds 214,246 Bitcoin, bought at an average price of $35,160. MicroStrategy is planning to transition into a development company for Bitcoin and related products. Since its establishment, the company has been primarily engaged in the creation and maintenance of analytical software. MicroStrategy’s founder, Michael Saylor, stated that the company has no plans to sell its Bitcoin reserves in the short or long term.
