MicroStrategy, the company owned by Michael Saylor that currently holds 214,000 BTC, is riding the Bitcoin wave, surpassing eBay in the ranking of the largest companies in the USA. Currently, MicroStrategy is in 278th place.
Bitcoin Effect: MicroStrategy surpasses eBay and becomes the 278th largest company in the USA
MicroStrategy, the well-known business intelligence company of bitcoiner Michael Saylor, is fully experiencing the Bitcoin effect, which has led it to surpass eBay in the ranking of the largest companies in the USA.
And indeed, at the time of writing, MicroStrategy is the 278th largest company in the USA, while the ecommerce giant eBay has dropped to the 311th position.
This ranking, much like cryptocurrencies, is based on the market capitalization of US companies.
On this note, MicroStrategy, which currently owns 214,000 BTC, is seeing its growth with a total market cap of 31.85 billion dollars. In contrast, eBay has 26.46 billion dollars.
Saylor’s company has risen two positions in the last 24 hours, just as the news tweet from yesterday points out, when MicroStrategy was ranked 280th.
JUST IN: MicroStrategy has now surpassed eBay to become the 280th largest company in the US.
The #Bitcoin Effect 🙌 pic.twitter.com/XqsVifKmBv
— Bitcoin Magazine (@BitcoinMagazine) March 26, 2024
“MicroStrategy has surpassed eBay becoming the 280th largest company in the United States.”
Bitcoin Effect: MicroStrategy grows in market cap and surpasses eBay in the USA ranking
It is clear that MicroStrategy’s market cap, which allowed it to surpass eBay in the ranking of the largest companies in the USA, depends primarily on the performance of its stocks.
Not by chance, the price of MSTR shares of MicroStrategy has seen a 1.13% pump in the last 24 hours. At the time of writing, MSTR is worth $1876.99. Not only that, the current price of MicroStrategy shares is up +31% in the last 5 days, +115% in the last 30 days, and +494% in the last six months.
This rally in the rise of MSTR on the Nasdaq is also a reflection of the company’s choices, such as implementing the strategy of accumulating BTC over the years.
And indeed, just a week ago, Saylor would have announced to have purchased another 9,245 Bitcoin. MicroStrategy is currently a holder of a total of 214,000 BTC.
This purchase came after another purchase of 12,000 BTC, which took place around mid-March 2024.
The price of BTC
The performance of MSTR and MicroStrategy can be said to be the result of the current bull run of Bitcoin, as the company is a declared holder of BTC.
And so, at the time of writing, BTC is worth $69,903, down 2% from yesterday but up 11% from a week ago.
Actually, this month, BTC reached a new all-time high (ATH) above $73,000 on March 13, 2024. Since then, BTC has dropped to a low of $61,000 and then resumed its upward trend in this last week.
