2024

Bitcoin

MicroStrategy’s market capitalization reached a new all-time high, crossing the $31.8 billion mark. 
According to Companies Market Cap, MicroStrategy ranks 606 among the largest companies in the world by market capitalization. Since the beginning of the year, its capitalization has almost tripled by 135.7% over the last month. 
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 <img loading="lazy" decoding="async" width="1024" height="502" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-27-at-16.27.45-1024x502.png" alt="MicroStrategy’s capitalization reaches&nbsp;record highs amid Bitcoin's $70k recovery - 36" class="wp-image-14261406">
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 Source: Companies Market Cap
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 You might also like: <a href="https://crypto.news/bitcoin-is-winning-microstrategy-chair-michael-saylor/"> Bitcoin is ‘winning,’ compared to S&amp;P 500, MicroStrategy’s Michael Saylor says: Others disagree </a> 
MicroStrategy’s (MSTR) share price has increased by approximately 200% since 2024 began, and at the time of writing, MSTR is trading near $1,880. The cost of its shares has increased from $141 to $670.71 since the start of 2023, with 10x Research experts <a href="https://crypto.news/expert-calls-microstrategy-shares-overvalued-predicts-price-correction/" target="_blank" rel="noreferrer noopener">calling</a> MSTR overvalued. 
The daily increase in market capitalization by 1.13% resulted from Bitcoin’s recovery to $70,000. CoinMarketCap data shows that BTC is currently trading around the $71,600 mark. 
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 <img loading="lazy" decoding="async" width="1024" height="868" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-27-at-16.31.31-1024x868.png" alt="MicroStrategy’s capitalization reaches&nbsp;record highs amid Bitcoin's $70k recovery - 37" class="wp-image-14261407">
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 Source: CoinMarketCap
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</figure> 
Between March 11 and March 18, MicroStrategy purchased 9,245 <a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a> worth $623 million. According to the latest data, the company <a href="https://crypto.news/bitcoin-microstrategy-ownership-total-supply/" target="_blank" rel="noreferrer noopener">holds</a> 214,246 BTC on its balance sheet, which was acquired at an average price of $35,160. 
<a href="https://crypto.news/tag/MicroStrategy/" target="_blank" rel="noreferrer noopener">MicroStrategy</a> plans to re-profile itself as a development company for <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> and products based on it. Since its inception, it has focused on creating and supporting analytical software. 
The company’s founder, Michael Saylor, previously <a href="https://crypto.news/microstrategy-ceo-michael-saylor-abandons-plans-to-sell-bitcoin/" target="_blank" rel="noreferrer noopener">said</a> that the company does not intend to sell reserves of the first cryptocurrency in the near and long term. 
 You might also like: <a href="https://crypto.news/microstrategys-holdings-are-at-8-1b-profit-btc-hits-new-ath/"> MicroStrategy’s holdings are at $8.1b profit, BTC hits new ATH </a>

MicroStrategy’s capitalization reaches record highs amid Bitcoin’s $70k recovery

crypto.news

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