David Edwards
MicroStrategy Inc. (NASDAQ: MSTR), led by executive chairman Michael Saylor, closed Wednesday at its highest market capitalization on record, reflecting mounting investor confidence as Bitcoin continues to hover near all-time highs.
“MSTR just closed at an all-time high market cap,” Saylor posted on X (formerly Twitter) late Wednesday, underscoring the market’s response to both the firm’s Bitcoin-centric strategy and broader crypto optimism.
Stock Momentum Builds on Bitcoin Surge
MicroStrategy shares have advanced 21.5% over the past month, closing at $455.90 on Wednesday, per Google Finance. Over the same period, Bitcoin (BTC) has rallied nearly 10%, peaking at $122,884 before settling at $118,413, according to Nansen.
Despite achieving a new market cap high, MSTR stock still trades approximately 19% below its intraday record of $543, set on Nov. 20. The company has continued issuing equity to fund Bitcoin acquisitions, reinforcing its role as a de facto proxy for institutional Bitcoin exposure.
Options trader Sean Trades noted on X that MSTR is “gearing up for the next leg to all-time highs,” highlighting rising momentum in options markets.
S&P 500 Entry in Sight
Strive Funds Vice President Jeff Walton noted Wednesday marked the 11th consecutive trading day that MicroStrategy met S&P 500 inclusion criteria. Walton, who was featured in the Financial Times documentary Michael Saylor’s $40 Billion Bitcoin Bet, predicted MicroStrategy could become “the number one publicly traded equity in the entire market” based on its Bitcoin-centric capital allocation.
Earlier this week, MicroStrategy disclosed in a U.S. SEC filing the purchase of an additional 4,225 Bitcoin for $472.5 million, continuing its aggressive accumulation. This brings the company’s total holdings to over 226,000 BTC.
MicroStrategy will report its next quarterly earnings on Aug. 5. The firm has posted net losses in the last three quarters, though investor sentiment appears to remain tethered to Bitcoin’s long-term trajectory rather than short-term profitability.
