Michael Saylor’s Strategy (MSTR) closed the trading day on Wednesday at its highest ever market capitalization, as Bitcoin continues to float near record highs.
“MSTR just closed at an all-time high market cap,” Saylor said in an X post on Wednesday.
MSTR’s price “gearing up” for new highs
It comes as MSTR’s stock price has climbed 21.52% over the past month, closing Wednesday at $455.90, according to Google Finance data.
Meanwhile, Bitcoin (BTC) has surged 10% over the past month, reaching new highs of $122,884 on Monday before pulling back to $118,413 at the time of publication, according to Nansen data.
Options trader Sean Trades said in a post on Wednesday that MSTR is “gearing up for the next leg to all-time highs.”
Despite setting a new market cap record, MSTR is trading 19% below its all-time high of $543, reached on Nov. 20. The firm has continued to issue stock to raise funds for its Bitcoin accumulation strategy.
MSTR clocks 11th day of S&P qualifier amid more Bitcoin buying
Strive Funds Bitcoin Strategy vice president Jeff Walton said in an X post on Wednesday that it is the 11th day of Strategy qualifying for the S&P 500.
In May, during the Financial Times documentary Michael Saylor’s $40 Billion Bitcoin Bet, Walton predicted that the Strategy would become the “number one publicly traded equity in the entire market” because of its future financial strength enabled with Bitcoin.
Related: Michael Saylor signals Bitcoin buy after one-week hiatus
The company announced in a Monday US Securities and Exchange Commission filing that they acquired 4,225 Bitcoin for $472.5 million last week.
Strategy will release its latest earnings report on Aug. 5. The firm has reported net losses for the past three quarters.
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
