MicroStrategy (MSTR), a leading bitcoin investment firm, has now reached the prestigious rank of one of the top 100 publicly traded U.S. companies, landing at number 97 by market capitalization.
On Tuesday, the company’s stock surged by 12%, crossing the $400 mark, a move that mirrored Bitcoin’s impressive rise to a new record high of over $94,000. This rally propelled MicroStrategy 29 spots higher in the rankings, underscoring the company’s growing influence in the market.
The momentum continued into Wednesday, with MicroStrategy’s stock rising another 6.6% in premarket trading. The boost came alongside the announcement that the company had upsized its convertible debt offering to $2.6 billion, an increase from the previously planned $1.75 billion. The funds raised will be used to purchase additional bitcoin, continuing MicroStrategy’s strategy of expanding its holdings.
This latest offering is the company’s sixth, with terms ranging from 2027 to 2032. As of mid-November, MicroStrategy held 331,200 bitcoins, worth over $30 billion, making up a significant portion of its nearly $100 billion market cap.
