MicroStrategy much bigger than Binance Coin, valuation over $100 billion

Olumide Adesina•Wednesday, November 20, 2024•1 min read

MicroStrategy is much more valuable than Binance Coin with a market valuation of over $100 billion. Binance Coin is the fifth most valuable cryptocurrency asset with a market valuation of $87 billion. The stock is expected to rise further as analysts predict that MicroStrategy’s BTC buying spree will pick up speed even faster than expected.

Bloomberg data shows that MicroStrategy’s market capitalization is now close to $102 billion MicroStrategy is the 97th largest publicly traded company in the US by market valuation and shows no sign of slowing down

The company’s market capitalization was supported by a share price increase of over 500 percent since the start of the year. This momentum is because of a bold investment strategy centered on the massive acquisition and Bitcoin’s record highs, which surpassed $94,4K today. The crypto market soared after Donald Trump won the US presidential election because many think his victory will help the sector. The business revealed plans to raise $21 billion in debt and another $21 billion in equity to finance the “21/21 Plan,” a multibillion-dollar purchase of Bitcoin over three years.

MicroStrategy was America’s most traded stock, surpassing well-known companies like Tesla and Nvidia on Wednesday

MicroStrategy revealed its biggest Bitcoin purchase, paying $4.6 billion for 51,780 BTC between Nov. 11 – 17. The business analytic firm currently has about $40 billion in Bitcoin. MicroStrategy doubled down on Bitcoin purchases during its earnings call in August pledging to use a novel performance metric: Bitcoin yield. Bitcoin yield is a benchmark for business performance by calculating the ratio of BTC holdings to outstanding shares.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.