Bitcoin giant MicroStrategy has moved up in the ranks to become one of the top 100 listed companies in the US. According to official data, the firm jumped up to the 97th rank in the list of top 100 listed firms in the US.
The upgrade comes at a time when Bitcoin has shattered multiple records in terms of trading. For the past week, Bitcoin has been hitting new all-time highs almost every second day amid optimism and bullish investor sentiments.
At the press time, Bitcoin is trading at $94,247.18, up nearly 1.69% as compared to the same time last day.
Also read: Michael Saylor’s MicroStrategy Reveals Record Bitcoin Yields Of 26.4%, Benefiting 49,936 BTC For Shareholders
MicroStrategy Shares Jumps 12%
With a 12% price spike through $400 per share on Tuesday, November 19th, the firm surged 29 spots and is currently trading at $430 as the market closes.
One of the biggest stories of 2024 has been MicroStrategy, which has increased by more than 500% so far this year, while Bitcoin has increased by more than 100% within the same period.
MicroStrategy’s Previous Bitcoin Buy
MicroStrategy, the world’s leading Bitcoin-focused business intelligence organization, had previously raised its Bitcoin treasury by a substantial amount.
According to official documents, the company made one of its largest purchases on November 18th for $4.6 billion worth of Bitcoin. The firm bought 51,780 Bitcoins, the most since it began purchasing the digital asset more than four years ago.
On October 30, MicroStrategy bought thousands more Bitcoin with the money from a share sale under a sales agreement with companies like TD Securities.
Bitcoin Price Reaches Another All-Time High
MicroStrategy’s price rise and becoming one of the top 100 listed firms in the US coincides with Bitcoin prices rising to new highs.
This rally in Bitcoin prices started on the day of the US 2024 election results. The price of Bitcoin reached its first ATH during the early hours of November 6th, riding the wave of optimism about a Republican triumph.
Trump’s pro-crypto stance and the increase in the price of Bitcoin have created an especially positive market climate.
As of right moment, Bitcoin has surpassed the world’s biggest financial assets. Bitcoin recently surpassed Saudi Aramco to become the seventh-largest asset globally.
Furthermore, Bitcoin investors are currently celebrating the possibility of a leadership transition at the SEC. Many in the sector anticipated that the next SEC chair would be a pro-crypto candidate when it became known that Genser would be leaving his job shortly.