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MicroStrategy’s market cap nears $102B

MicroStrategy’s market cap nears $102B

GrafaGrafa2024/11/21 10:37
By:Liezl Gambe

MicroStrategy’s market capitalisation has reached $100 billion, positioning the company to potentially surpass Intel, which currently holds a market cap of nearly $102 billion, according to Google Finance data as of November 20.

This milestone is attributed to MicroStrategy’s aggressive Bitcoin (CRYPTO:BTC) acquisition strategy, which has fueled significant growth in its stock value.

The company’s shares have gained momentum, with analysts projecting MSTR to reach as high as $450 per share.

Benchmark fintech analyst Mark Palmer recently raised his price target from $300 to $450, citing Bitcoin’s potential to hit $225,000 by 2026.

Palmer noted that MicroStrategy’s Bitcoin-focused strategy has significantly boosted its share price over the past four years, outperforming most large U.S. companies.

MicroStrategy is advancing its Bitcoin initiative through its “21/21 Plan,” committing to raise $21 billion in equity and another $21 billion in debt for ongoing Bitcoin purchases.

During its latest earnings call, the company announced its largest Bitcoin acquisition to date, purchasing 51,780 BTC for $4.6 billion between November 11 and 17.

This brings MicroStrategy’s total Bitcoin holdings to approximately $40 billion.

Executive Chairman Michael Saylor emphasised the accelerated pace of these acquisitions, noting in a CNBC interview that securities issuance and Bitcoin purchases are advancing faster than initially planned.

Additionally, MicroStrategy has introduced a unique Bitcoin yield performance metric, measuring the ratio of Bitcoin holdings to outstanding shares.

This BTC-per-share metric is being positioned as a key indicator of the company’s corporate performance, further underscoring its commitment to its Bitcoin strategy.

At the time of reporting, the Bitcoin (BTC) price was $97,750.26.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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